FootageItem replace() not working

Hello! I'm trying to implement Shotgrid's Scene Breakdown for After Effects and while it is correctly identifying the FootageItem in the scene that it needs to update, the function for replacing the path does not seem to work (and neither does replaceWithSequence). I am not sure if the issue is related to the path being passed in, but currently this does nothing:

def update(self, item):
    node_name = item["node_name"]
    node_type = item["node_type"]
    path = self.parent.engine.adobe.File(item["path"])
    selected_item = item["extra_data"]["footage_item"]
    if node_type == "Footage":
        print("Updating {} path to {}".format(node_name, path))
        selected_item.replace(path)

I have also tried replacing the item using rpc_eval and putting the ExtendScript equivalent code inside but that also does not work. What am I missing here?