Welcome to the Atlassian Community!
This means that your admins have created a field called "Privacy risk", and made it mandatory in the project, but, at a guess, not remembered to put it on the "issue create" screen. You need to fill in the field to create the story, but if it's not on screen, you can't do that.
You need to talk to your admins about getting made optional, or added to the create screen.
Hello @Godwin Nwaugha
Welcome to the Atlassian community!
That is an indication that your administrators have set the Privacy Risk as a Required Field.
You will have to fill in the field in order to create the issue.
If you think it is not appropriate for the field to be required, you need to contact your Jira Administrators to request it be changed.
If the field is missing from the screen and you can't fill it in, then that also would require you to contact your Jira Administrators to get that corrected.
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