Paragraph field with rich text enabled is the correct option.

The Paragraph field with rich text enabled provides a rich text editor for its description so authors can apply bold and italic styles and other rich formatting. It is a multi line text type that is explicitly designed to render styled content in descriptions and comments.

Labels are tag style metadata and they do not support rich formatting in their descriptions so you cannot use bold or italic there.

Number Field stores numeric values and its description is plain text only so it does not allow bold or italic formatting.

Select List single choice offers a single choice from options and its description remains plain text so it cannot include bold or italic styling.

Text Field single line is intended for short, single line input and its description does not support rich text formatting.

Full AWS Practitioner Certification Question