To change the name displayed of your custom status so that it also changes the text shown for bulk actions drop down, actions button hover text and status in the admin order screen.
For example:
Ready for pickup > Ready for Collection
Picked up > Collected
Zorem
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Hi, you can use Loco Translate to change the Eng translations to these terms. Another option is by using a code snippet to change the name of these custom order statuses.