Blueprint replication question

I am pretty new to Unreal engine and have been experimenting with a bunch of different things. I tried to make a floating nametag above the online players which was easy enough using a Text Render embedded into the BP. I spent an hour and a half trying to figure out how to set each player’s name individually when Q is pressed (right now its just setting as a premade string). In the end, the following is the only thing that worked for me

Is this the proper way to make something replicate to all of the players? I recall having to do this a long time ago when I was experimenting with making each player toggle their flashlights on and off. I feel as if there is another, shorter technique to accomplish this task. Can somebody out there let me know? Perhaps even recreate my bottom blueprint with the correct method?