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When creating a custom dropdown field, the pick list you build out cannot be edited in the future. There may be times when some of the dropdown options are no longer needed or have to be edited. This is especially complicated when there are numerous options to choose from. Create a custom dropdown, then go to System admin/Custom fields.
STATUS DETAILS
Completed

Tulsi Jhaveri (administrator) on 11/22/2022 11:10:27 PM
We’re pleased to announce the completion of this functionality. For more information, see Create and work with custom fields - Finance & Operations | Dynamics 365 | Microsoft Learn. This posting is provided “as is” with no warranties, and confers no rights.