Using “Custom Labels” in Contacts & possible solution

I’ve had issues for awhile in not being able to add Custom Labels to new or existing Contacts, only the 10 standard; home, work, mobile, etc.

Not sure if this is the same situation others have posted about, but mine had to do with the “Default Account” setting I had set to “Outlook” (Settings > Contacts > Default Account). I had 2 options for that setting; Outlook & iCloud. When I changed it to iCloud, any NEW accounts had the Custom Label option, but it appears that any existing contacts created with the “Outlook” setting in Default Account still had no Custom Labels. Not sure why it works this way, but it does.