Yes you can replace an existing certificate in AWS Certificate Manager(ACM) with the same hostname (or wildcard) certificate with a different expiration date.
You can create several certificates for the same domain in the same AWS account or in different AWS accounts. ACM will provide them without any other check that DNS/Email validation.
No Since you are not relying on managed renewal that ACM provides but creating a new one (with a new Amazon Resource Name (ARN)). You have to go and update all endpoints to use that new certificate.
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