  We present results from a polarization study of the radio-intermediate
quasar, III Zw 2, at a redshift of 0.089, with the upgraded Giant Metrewave
Radio Telescope (uGMRT) at 685 MHz and the Karl G. Jansky Very Large Array
(VLA) at 5 and 34 GHz. We detect a kpc-scale outflow, exhibiting transverse
magnetic (B-) fields. The curved jet terminates in a bow-shock-like radio
structure with inferred B-fields aligned with the lobe edges. We suggest that
the radio outflow in III Zw 2 is a combination of a collimated jet along with a
wind-like component. This "wind" component could be a magnetized accretion disk
wind or the outer layers of a broadened jet or a combination of both. The
current data cannot differentiate between these possibilities. We also detect
kpc-scale lobe emission that is misaligned with the primary lobes in the uGMRT
images. The spectral indices and the electron lifetimes in the misaligned lobe
are similar to the primary lobe, suggesting that the misaligned lobe is not a
relic. We propose that changing spectral states of the accretion disk, and the
subsequent intermittent behaviour of the outflow, along with the close
interplay between the jet and "wind" could explain the radio-intermediate
nature of III Zw 2. Our study shows that radio-intermediate quasars are
promising sources for understanding the role of jets and winds in galaxy
evolution and demonstrates the power of radio polarization studies towards
achieving this.
