SA Server 5.2/IDConfirm 1000
No, it is not, the reinstall is needed.
After using a trial license and purchasing a new license you might need to change the SA Server/IDConfirm 1000 license code. In SA Server 5.2/IDConfirm 1000, even though you can review setup choices when first installing SA Server/IDConfirm 1000 after you login in admin portal and use link for setup portal (from left menu), you still cannot change the license because the license code is not editable. The important part of the main security and functionality feature of SA Server/IDConfirm 1000 is done during install process when the license key is added in the keystore and the database and is used for operational process with the registered users and devices.
Therefore SA Server needs to be fully reinstalled.
In SA Server 5.1/IDConfirm 1000 version the change of license code and license file was possible. However, for security reasons it is not recommended to change licenses after a full initial setup of the server setup portal and after provisioning of devices.