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// Get a list of categories and extract their names
$post_categories = get_the_terms( $post->ID, 'category' );
if ( ! empty( $post_categories ) && ! is_wp_error( $post_categories ) ) {
    $categories = wp_list_pluck( $post_categories, 'name' );
}
 
// Get a list of tags and extract their names
$post_tags = get_the_terms( $post->ID, 'post_tag' );
if ( ! empty( $post_tags ) && ! is_wp_error( $post_tags ) ) {
    $tags = wp_list_pluck( $post_tags, 'name' );