Try:
Sub InsertFigureReference()
Application.ScreenUpdating = False
ActiveWindow.View.ShowFieldCodes = True
Dim Rng As Range: Set Rng = Selection.Range
With Application.Dialogs(wdDialogInsertCrossReference)
.ReferenceType = "Figure"
.ReferenceKind = wdOnlyLabelAndNumber
.InsertAsHyperlink = True
.Show
End With
With Rng
.MoveEnd wdWord, 1
If .Fields.Count = 0 Then
Undo
GoTo ErrExit
End If
With .Fields(1)
With .Code
.Text = Trim(Split(.Text, "\h")(0) & "\* Charformat \h")
.Characters.First.Style = "Strong"
End With
.Update
End With
.Collapse wdCollapseEnd
End With
ErrExit:
Set Rng = Nothing
ActiveWindow.View.ShowFieldCodes = False
Application.ScreenUpdating = True
End Sub