Purpose of the 'Ethnicity' and 'Religion' text box fields on Demographic Info section

Summary: What is purpose of the 'Ethnicity' and 'Religion' text box fields on Demographic Info section

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As an employee when I navigate through Me > Personal Information > Personal details > Demographic Info section, there are two Ethnicity and Religion text box fields visible on the page. What is the purpose of those fields and can we configure the LOV in those fields? If Yes, then how can I do that?

I found two lookup type that are PER_ETHNICITY and PER_RELIGION, but if I am adding a new Ethnicity or Religion under these lookup types or making any changes, they are not reflecting under the Demographic Info section on the Redwood UI. Even the existing values that are enabled under the lookup type are not visible on the page.