Add a Routing button to the Shared List Item form's ribbon. That way if a request is processed from this form, it can be fully processed and made available right from here. The idea is that if this is for a physical item, and a book is on reserve, then the books for all those individual shared list items would also be at the same status. Or if it was a link to a PDF or a website, then again, all of them would be at the same status.