Display Value Set Description in place of the Value set code for the fixed assets location flexfield

Hello,
We have a requirement to display Value Set Description in place of the Value set code on the fixed assets location flex field.
There is no relevant documentation that specifies whether this is possible or not and we are looking for an official response regarding this.

Although, relevant documentation is available that specifically outlines that fixed asset flexfield value sets do not support more than 30 characters.