When i upadte an Epic's field then is it possible to update that field for all of the Epic's child issuetypes automatically?
Yes this is possible with a plugin. For example Scriptrunner could have a script listener executing this update. Here is an example how to list all issues in a Epic that could be the base for what you need to update.
https://answers.atlassian.com/questions/15699065
Good luck!
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