If you're reading this, you might be looking for a way to show a rendered entity in a specific view mode as options for radios / checkboxes entity reference Webform Element.
Regularly, these entity references show the labels of the referenceable entities. There's no option to select a "rendered" display or view mode for the form display.
But the solution is so simple:
Just select
Reference method: Views filter by an entity reference view
and configure a view with an Entity Reference display with all wonderful options you're looking for!
I opened a webform issue to find the solution and suggested to add a description to point out this advanced option more clearly: https://www.drupal.org/project/webform/issues/3469200