I'm not 100% sure if that's what you meant, but in a sense it is with help of Fusion.
Our use case is following:
we add/remove users to the system using Fusion, one of the details that come in with a new user (these are included in formatted CSV file) is Office name (location). Fusion lists all offices in new file, checks all options available in existing "Office name" dropdown and if there is any new office in the latest file it would add another entry.
Ofcourse Office name field once it's in the system and assigned to users can be used in 100s of ways including in other custom forms, what we actually do.