Creating a perfect circle with ellipse tool AFTER it's already been drawn

I get that you can draw a new circle by holding shift and then continue to increase / decrease the size while retaining the circle by holding shift. But I want to be able to have an imperfect circle (ellipse) that I’ve already created be able to turn back into a perfect circle. Like I’ve got some weird shaped ellipse and then by holding alt and dragging, it turns back into a circle.

The Scale Height and Scale Width parameters could be changed to what is intuitive ie keeping 100% and 100% meaning its the same height / width (not what it 100%/100% resembling what you originally drew as its set up now) or by adding some new parameters added to allow you to revert back to perfect circle.