Performance templates and Redwood update

We will be updating production with Redwood soon and I have to change our mid-year performance template workflow. Will I be able to just update the workflow (we have the new workflow attached to our year-end review) and update the review period or do I need to create a brand new mid-year performance template?

We went through mid-year performance in Oracle and we went through year end in oracle. So I do have 2 templates already created. I just need to be able to use the workflow from year end on our mid-year template for this year and I also need to add a new review period IE 2025. Hope that helps to answer my question. Thank you in advance.