There’s a bit of an odd solution to this issue using our app MigrateMyCRM, for those who are interested…
This feature - to be able to export values in a picklist - exists within our mapping feature, which you can use without needing to run a migration. Simply connect to HubSpot as your source, and select Excel or CSV as your target. Then, just continue through the steps until you land on the Mapping screen.
From here, find the object you’re looking for (Companies, Contacts, etc.), find your field, then click the Control/CTRL key, and you’ll notice that the picklist fields become underlined. One of the icons next to the field name will also switch to a CSV icon. Click on the icon while the field is underlined, and it will download a file with all of your picklist options for that field.
Hope this helps!