I think it’s better to install a new version of the theme component. It’ll complain about the name:
But you can change it:
The new version will start off in the “Unused components” section, so it’s easy to find.
From there you’d need to update which themes have the new version of the component. Be sure to remove the main branch version! All this will be easier to do on a new copy of the theme. Ideally your theme is on a repo too, but you can export it and import from the local machine in a pinch.