There's no built-in option in WooCommerce that would allow you to add, remove, adjust the fields in the Checkout form. For example to remove the Country field for local business, or add an additional fields, which may be required for legal reasons or something business-specific, but luckily, there are various plugins out there that can help you with that.
- WooCommerce Checkout Field Editor (Manager) Pro
- Flexible Checkout Fields for WooCommerce
- WooCommerce Checkout Manager
These are just a few examples, feel free to search for more.