Dynamic select field options

Hi, I need a custom select field that has different options for each project.
I know I can achieve this with different contexts on the field for each project, but I need a way to create these contexts and options automatically so users dont have to create new ones every time they create a new project.

So far I have found Customfield Editor Plugin (https://codeclou.io/customfield-editor-plugin/1.5.2/rest-api/) which can create the options, but that can not create the contexts for each project.

So my question is, is there a way to create contexts for a custom field using an API, or am I missing an easier more obvious solution?