But to be honest, I expected a single option for this :-)
\setuplabeltext[en][chapter=Chapter~]
% while for chapter title this line break is handy (in my use case) \setuphead[chapter][ alternative=middle, style=\bfc,
conversion=Romannumerals, numbercommand=\groupedcommand{\cap}{\blank[0.5cm]}, after={\blank[1cm]}, ]
% for section it is inappropriate \setuphead[section][ align=middle,
style=\bfa, sectionsegments=section, % ignore component label ]
\starttext \chapter{Foo} \section{The First Section} Text. \stoptext