Is it possible to set up the waive option for Benefits with a picklist of pre-defined reasons?

Summary:

Currently in Fusion HCM Benefits configuring reasons for waiving Benefits is not delivered. Does anyone have experience setting this up with a custom solution and if so how?

Content (please ensure you mask any confidential information):

Waive Plans and Waive Options (oracle.com)

Waive Option Setup and Use

Create a waive option at the plan level in the Plan Configuration work area using the Manage Benefit Options task.

Version (include the version you are using, if applicable):

24A

Code Snippet (add any code snippets that support your topic, if applicable):

N/A