It would be a very helpful addition to be able to replace the referenced property of an existing essential property.
I could see this working in a similar way to asset replacement in the Project panel, in that a user could Alt-drag a property onto an existing EP in the EP panel to replace it. (Of course, the two property types would need to match for this to take effect.)
Example use case:
My EP panel has a Scale property; this is linked to the Scale of a shape object. Later, I realise that I would be better served to have the shape parented to a null, and to change the scale of the null instead. However, because this comp is already in use elsewhere in the project, with adjustments made to the Scale EP, if I were to delete this EP and create a new one, all of those adjustments are lost and need to be redone. With my suggested behaviour, if I were to Alt-drag the null's Scale property onto the Scale property in the EP panel, the reference is updated and all of those adjustments throughout the project are retained.
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