Changing the drop down list on the Hardware Assets > Asset Lease Expiry grid page would indeed require a product change - the values in the list are not configurable.
You could try configuring a custom report to show the data you are after rather than using this built-in grid page.
With that said, your question has made me wonder why this grid page is even there. Asset records used to have a Lease end date property on them (which I would guess is the key property behind determine which records should be shown in this grid). However that property was obsoleted and removed many years ago. (Strictly, the property does still exist in the underlying FlexNet database schema, but it is not generally exposed anymore.) I'm thinking that the page you're looking at here is probably a vestige of that old property, and should probably have been removed at the time the Lease end date property was removed.
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