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In D365 if we need to create a new label and assign that to Label or Help text of an item, we have to create label in the label file and then paste in the object. There is no way by which via the object properties we can create a new label or edit existing one. There should be an ability to create a new label or edit the existing one when we go through object properties where Label or help text is provided.
STATUS DETAILS
Planned
2020 Release Wave 1

Administrator on 6/29/2018 9:29:13 AM
The label editor is needed as a separate construct to separate the label definition from the label use. We'll look at ways to speed up the creation of labels in the future.