I found an answer to a similar question here https://community.atlassian.com/t5/Jira-Software-questions/How-to-show-custom-field-in-specific-statuses-only-hide-the-rest/qaq-p/1816591
Where @Taranjeet Singh suggested to:
"Create your new custom field and add it only to the Transition screens (linked to the transitions that lead to Declined and Declined by Investee statuses in the Epic workflow). Also make that field required on the transition screens (possibly, using a out-of-the-box validator on these transitions)
This way, the field will be captured while declining the Epic and will have a value displayed on the view screen after that. (I am assuming bothe Declined and Declined by Trustee are the last statusus (i.e. 'Done' category statuses) of the Epic workflow and it cannot be reopened after that)."
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