If you are willing to rename Privacy policy (GDPR) label in checkout page then WP Travel plugin provides the feature regarding renaming Privacy policy (GDPR) label in checkout page using filter code as per your requirement.

To rename label, you have to add following given code in the functions.php file of your child theme.

function customized_label($checkout_fields){
  $checkout_fields['payment_fields']['wp_travel_checkout_gdpr']['label'] = 'Your text here';
  return $checkout_fields;
}
add_filter('wp_travel_checkout_fields', 'customized_label');

For detail assistance regarding creating child theme, please refer link.

Before:

After:

If you have any queries/confusions then please submit it to our Contact page.