You can activate/de-activate beard from a PC in the character creation screen if the head model includes a mesh called P_Headxx_Fhair01 (xx being the number of the head).
I have always been curious as to why this beard end with 01. So I tried to create a P_Headxx_Fhair02. This head don’t crash the creation screen but only FHair01 is selectable.
My question is does somebody know if it’s possible to modify the character creation screen to allow more than 1 beard option?
Good question. I haven’t seen a way to do that, but it could be a useful option. I wonder if there is a field in the blueprint data file that could be edited via an accessory?
Ed.: Strike that. Actually the facial hair is a component of the head model, so they’re linked together. I think you would have to make new head models by pairing together the heads with the facial hair.
You could try adding beards as Visual Effects.
I have never used visual effects, and don’t know about them.
My question was because I found strange that the facial hair are called fhair01. That is asking for a fhair02, fhair03 
alas it’s not working, it would have been a cool addition.