Choose Tools > Options > Library

Manage Library Fields allows you to add all kind of tags.

You can't change the data properties of standard tags.
You can change how they are displayed in the interface.
You can choose not to write the tag in the audio file but I won't recommend this.
You can in/exclude the tag to be used by the search box.
Add New Field allows you to create a custom tag.

List allows for multiple values in a tag.

Normally if you edit a tag the edit affects only the cells you selected in the interface.
If a field is relational all related cells will be changed even if you edit a single cell only.
What is affected depends on the scope of the relation chosen.
Sounds pretty cryptic I’m afraid.
More about Relational Fields.
If a file has tags not supported by the standard tags in JRiver, create a custom tag with exactly the same name as the name of the tag in the audio file.
See Custom Tags for more detail.

The drop down arrow brings up the expression editor.

More about using expressions