Hi Aman
I'm not aware of such functionality in CWC.
I'm also not sure it would actually be useful, for 2 reasons. The first is that configuring a step from scratch should not be long. The second is if you want to do a copy-paste, you could just open 2 tabs side-by-side and the copy-paste should be very quick, about the same amount of time as it would take to go through a separate list system. But I can see how it could minimize errors, make sure details were not missed.
What I would do is make a Work Instruction called "Library" and put your standard ones there. Then when you want to add one to a Work Instruction, open Library in another tab and copy-paste it. I can see 2 pieces that would take a bit more time and be annoying : attributes & limits, and if you need to attach documents & limits to the instruction panel.
If you want I can open a request for the software team to make a step library system, or just a "copy step from X" button. But I doubt they will treat it as a priority. In particular because it would take a lot of time for them to code & test it for all 7 step types and make sure the attributes & limits are copied correctly in all scenarios.