Question:

There are four default standard picklist values (Published Content, CLM, Engage, and CLM Preview) for the standard field Rights Channel. Is there a way to disable the four standard picklist values?

Answer:

The four standard picklist values are for an integration feature between CRM and Vault, so it is not possible to disable them.

The picklist values are actually used in two fields. One is the standard document field Rights Channel and the other is defined in the Distribution object. The integration is built on the picklist values being standard so they cannot be changed.