We currently have a custom field named Risk/Impact/Cost that is a Text Field (multi-line) that is used for several projects. I was hoping Context could help this out but I am struggling.
The initial ask is that the project wants Risk/Cost and not impact in there.
I tried adding Context for the project specific but it appears that it only affects the values and not the field label. I believe I have to rename the field in Custom Fieldsand cause issues with the several other projects.
I did update the description in Field Configuration to describe what they want for it. It is an issue with the label. I did run across this picture below for Custom fields in JIRA Server but it probably is still applicable for JIRA cloud. 