Note: When you enable Selective Access for a list, a Read column and a Write column display in the list's Grid view. However, if you want to use Selective Access with picklists, the picklist shows the list items that users have access to, but Read or Write access is ignored.
Select the Selective Access checkbox for the list you want to use as a picklist in General Lists
If you want to create a one-to-many or many-to-many filtered picklist, you can enable Selective Access if you want more granular control of access to the filtered picklist. When you format a line item or a list property, select Selective Access in the Filter options.