Truncating characters in Advanced Custom Fields works some places but not others?

It looks to me like the_sub_field echoes content. It is never returned for substr to work on. You need get_sub_field.

$givchars = 5; 
$postgiv = get_sub_field('get_involved_text'); 
$modgiv = substr($postgiv, 0, $givchars); 
echo ' ' .$modgiv. ' ';