i believe the calculated column has to be dropped and recreated as a new calculated column.
i just tried this as a proof of concept, and I get a syntax error on the ALTER command:
create table Example(exampleID int identity(1,1) not null primary key,
myCalculatedColumn as exampleInt * 2 )
--syntax error, so this format is incorrect.
alter table Example Alter Column myCalculatedColumn as (exampleInt * 2 + 10)
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