I am updating a bundle from sandbox to production. One of the items is a saved search which has two columns on the results referring to custom fields.

In the bundle, it automatically includes these two custom fields, which is fine, even though they exist on production already. The problem is when I perform the update NetSuite sees the conflict with existing objects and my only options are Add and Rename OR Replace Existing Object

What does Replace Existing Object mean? These objects obviously have data associated with them in records. When it performs the replace, will the data be preserved or will it all get wiped out? This is critical and very confusing. Imagine saying "Oh go ahead and replace it since I haven't made any changes" and then it wipes out the previous object AND data and installs this new one.