Hello,
You can definitely add a custom field to show that the business is women owned.
See: https://wpgeodirectory.com/docs/core-place-settings/#custom
We also recommend using GDV2 for a new site:
https://wpgeodirectory.com/try-geodirectory-v2/
In which case the doc is here: https://wpgeodirectory.com/docs-v2/places/custom/
On your site you may want to hold the featured status in reserve, but usually it is part of the pricing package options and applied automatically to a listing.
When a user adds or pays for a listing, you can set the listing to pending or draft status so you can review it before it is published. Most people choose to publish them, though, directly, so that users can proceed along their way.
So, you could add a hidden custom field, for featured-women-owned-businesses? In that way you could decide who is featured or not, and the field could be used to sort the listings and show the special businesses first on the listing/archive pages.
You can change the name of “Places” to business, but you could also just make a new post type called Businesses. You can change the name with the options in the Custom Post Type addon.
With GDV2 you can create a “Badge” to highlight listings that are women owned. On this page we have an example of how to use it with “Featured” but you can use it for any custom field.
https://wpgeodirectory.com/docs-v2/geodirectory/featured-listings/