I tired it and I got this error in return:
Error: 50
This Windows image cannot upgrade to the edition of Windows that was specified. The upgrade cannot proceed.
Run the /Get-TargetEditions option to see what edition of Windows you can upgrade to.
The DISM log file can be found at C:\Windows\Logs\DISM\dism.log
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This was a Windows Server Datacenter evaluation which was downloaded by mistake because it was supposed to be Standard, not Datacenter.
Now I am stuck with this because to change it it would take a lot of reinstallation of critical Line of Business software which would cost the company some heavy charges for such reinstallation. I need to find a way to convert this Datacenter evaluation to Standard. I have the legitimate license key purchased from Microsoft.