Yes."Room Change Re-Assign," beginning March 1, 2022, means to select a new room while keeping your old room, without cancelling your housing application.
Once Current Campus Residents, Upperclass Non-Residents, or Transfer students have selected a room, they will be able to see available/unfilled rooms to make changes to their selection.
If you don't see a space you are interested in, you might want to consider Room Swap instead.