Yes, you can update the custom field labels of managed package fields. Follow these steps:

  • Open the "Quick Update Translations" app and navigate to the "Quick Update Translations" tab.
  • From the "Select Entity to Translate" section, choose "Custom Fields"
  • This will open the "Update Custom Field Translations" page.
  • In the "Select Object" section, select the managed object for which you want to update the custom field labels and translations. 
  • In the "Select Custom Fields" dropdown, select the specific managed custom fields for which you want to update the translations.
  • Click on the "Fetch Custom Field Translations" button.
  • The page will display a table with the selected field labels. You can update the labels directly in this table.
  • After updating the labels, click on "Save Custom Field Translations."
  • To check if Custom Field Labels are updated or overridden:

    Simply click on the Field Name Link highlighted in the above screenshot; it opens the managed custom fields details page where you can verify the updated Field Label.