Change Label of custom taxonomy

Types does display the taxonomy terms only if you use PHP:
https://wp-types.com/documentation/customizing-sites-using-php/creating-taxonomy-term-archives/
https://wp-types.com/documentation/customizing-sites-using-php/creating-templates-single-custom-posts/

I am not sure how you display them, but at the end, they act exactly like native Taxonomies.

But anyway, Terms do not display or create any labels.

Maybe you are using more plugins than just Types?
Then I cannot assist further here, as this forum is for the free types plugin only.

Please feel free to correct me and elaborate your process, in case I misunderstood!