Can we use Rates-based salary process to update salary records when a VDC value is updated?

Summary:

Rates-based salary process is not updating the salary record when the VDC value is updated with a new value

Content (please ensure you mask any confidential information):

Salary Structure is Rate based with an allowance based on the criteria 'Grade'. The values are defined using 'Values Defined by Criteria'. There is a new requirement to change the values. 'Values defined by criteria' is updated with the new value effective 11/01/2023. Rates-based salary process is not creating the new salary with the updated value when executed with the option 'Create new salary' and effective date '11/01/2023'.

Version (include the version you are using, if applicable):