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There is no other option. And adding one more version is not a problem.
There is a way,
1.load your latest published version.
2.delete latest publish version
3.save and publish the loaded model.
But again I would suggest not to do this things better follow standard way.
Thanks for the reply. Yes, this may work. However, I feel this workaround and it is risky since it requires the deletion of the published version.