Insert Hyperlink in field

Really?
AFAI understand MP3tag, it is just a module in a collection of functions to maintain one's collection.
MP3tag does not have a file manager but relies on the Windows Explorer (see discussions about a folder tree)
MP3tag does not have a graphics editor and only basic functions to convert and resize pictures - anything more sophisticated has to be looked for in dedicated programs.
MP3tag does not deal with the stream contents of files - you also need other programs to do that.
MP3tag does not convert one format into another, you need, you will have guessed it, a dedicated editor for that.
And for most of these other purposes there are other full-fledged programs around, some of them even cost a lot of money so that I think that it is not very likely that MP3tag expands into those fields as well.

And in respect to hyperlinks... I know that you can add a Tool (see the options>Tools) to open a link, see e.g. a set of suggestions to open links from within MP3tag:

it is just not

Your idea that MP3tag should interpret data and find that this is an internet link has not yet been implemented and I doubt that it will be soon.
It is up to the user to tell MP3tag to take that data as hyperlink and forward it to another program.

Your idea to

is currently not part of the modular approach. Also,

is so far not nourished by fact. MP3tag is a program to tag files that comply with the implemented tagging standards.