Hi,
Yes, you could resize the existing VM to Standard_E4as_v4 provided there is available capacity and quota at the time you attempt to resize.
To your second question, No, there is no "reservation upgrade". What you could do is to exchange the existing reservation for a new reservation for the new VM instance family. Please see article below for specific details:
Self-service exchanges and refunds for Azure Reservations
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Thanks.
-TP