I would like users to be able to customize their personal list with status labels and custom fields that make sense for them, but I do not want standard users to change those values in shared spaces. (We want the tool to but customizable for individuals but cohesive for the group in shared spaces). According the the help agent I worked with, there is not a way to achieve this in current state.
We must either:
(a) Restrict the "Edit statuses" and "Edit Custom Fields" permissions globally. Users are not able to customize their personal lists.
(b) Temporarily change individual user license to Admin when requested (or temporarily increase permissions for all "Member" users) to allow users to set up their lists, then revoke permissions later.
(c) Allow "Edit statuses" and "Edit Custom Fields" permissions globally and add manual work to monitor changes via Audit Logs or another strategy.