We have some of the same custom fields on Epics and Initiatives that are drop down lists. Not only do we have to create them on each entity, but when the selections are updated, we have to update both fields manually. Sometimes these selections are updated monthly and there are a number of selections in the drop down. There should be an option to have shared custom fields so you only to create them on one work item and then share with another so they stay in sync.
This would be extremely valuable for us as well, especially between epic and feature level.
This is similar to APP-I-5460 - here is the comment I left there.
I support the request which I think is different than using Tables since Tables are more involved. We have the same custom fields that we apply to Ideas, Features, Epics, and Initiatives and any minor change we make to them, we have to apply the change to 4 places. Allowing us to manage the field only once across all of these objects would be very helpful.