Manage content type's different status for different users
Based on chat with @parth I realised the status field belongs more to relation of book and user rather than book. Here is my recommendation in that case.
Way 1:
The easiest way I could think of is

have a custom table as book_inventory with columns as book_entity_id, user_id,status,record_id

In order to allow admin to a UI in place to udpate status with fields as

autocomplete field for book
autocomplete field for user
status could be dropdown field

this UI will let admin to set status for any book against any user
down to your form UI, you can list what books are assigned to what users from your custom table with an edit link
when the admin clicks the edit button the same form UI will open but prepopulated with all the fields
now with help of this table
you always have information user and book status with you, you can query your database and get the status runtime
and in case you do not have a record agaisnt requested user and book, in that case you can have a default status, I believe 'not purchased' in your case
Way 2:
Other approach would be to try Relation module instead of entityReference, as relation module will allow fieldable relation between book and user.