Can the Inventory Item be changed on the Oracle Installed Base Item Instance?
There was talk about a possible enhancement that might support the use case but I don't recall if it was ever taken up.
We realize there is a workaround to expire the instance and create a the new Correct Instance and optionally linking the two for continuity. Grasping for straws for other options. I believe there was a discussion about a potential system profile, but I didn't find any such references or perhaps it was some other feature.