@tim richards Thanks for posting in our Q&A.
From your description, it is available in theory. However, there may be some problems in practice. When you deploy only a device configuration profile for wireless to change the pre-shared key, the devices will cut off network. It causes that the profile couldn't be deployed to devices successfully.
Given this situation, it is suggested to try to deploy a WiFi profile to devices. This profile will keeps the devices connecting to network. Then try to deploy another profile to change the pre-shared key.
Thanks for understanding and have a nice day.
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