Custom fields defined for projects which have the "required" bool set to true display fine on the edit project window, however custom fields do not appear at all on the "Create New Project" window.
If a custom field is set to be required, it will not be displayed on the "Create New Project" screen, however the screen will also not allow the user to progress with project creation until these (missing) fields are completed.
i.e. error:
FieldName is required.