Can someone confidently explain the difference in functionality of CC field versus Watchers?
Watchers can decide to add or remove themselves from an issue, whatever their other permissions are. The CC field is less flexible, you'd need edit rights to select people for it. I suspect it's a custom field someone has added though, possibly because they are not aware of watchers, which they should be using instead!
"Request participants" is the field that is populated when someone is cc'd on an email to a service desk.
"Watchers" are licensed users to your service desk.
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