Ability to upload images for items using externally-hosted image links or URLs.

Solution

1. Create a Custom field 

1. Navigate to Customization > Lists, Records, & Fields > Item Fields > New

1. Label: Enter preferred custom field name
2. ID: Enter preferred ID
3. Description: Enter Description 
4. Type: Select Rich Text
5. Applies To: Mark all item types where you want to have the custom field displayed
6. Click Save & Apply to Forms

2. CSV Import, upon creating CSV import file, make sure to have the following fields at the minimum:

1. Internal ID of the items to be updated
2. Value to be imported to the custom field: <img src=”insert URL of image here”>