Its possible to easily embed entites into the Drupal 8 wysiwyg editor, however, I have a custom form and when I rendered it in another form it didnt render correctly. The reason was I used markup not processed_text field type.
So the original settings form where I add my markup and entity ref is built like this:
$form['intro_text'] = [
'#type' => 'text_format',
'#format' => \Drupal::state()->get('myid')['format'],
'#title' => t('Intro text'),
'#default_value' => \Drupal::state()->get('myid')['value'],
];
Then in another form to show this text I do this:
$form['output_markup'] = [
'#type' => 'processed_text',
'#text' => \Drupal::state()->get('myid')['value'],
'#format' => \Drupal::state()->get('myid')['format'],
];
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