Answer
Yes, we can modify picklist values on standard objects in Salesforce. While the picklist fields themselves are predefined on standard objects, we can add, edit, reorder, or deactivate the values within these fields to suit business needs.
However, it’s important to note that the field type of a standard picklist cannot be changed. Additionally, we cannot delete standard picklist fields, but managing their values is entirely possible. For better organization, we can also leverage features like dependent picklists or global picklist value sets to standardize values across objects and fields.
This flexibility helps in tailoring standard objects to align with unique business processes while maintaining system integrity.