The administration and maintenance of Microsoft Exchange Server to ensure secure, reliable, and efficient email and collaboration services across an organization.
No, changing the policy will not move items that are already in the archive back to the main mailbox. You can either move them manually via Outlook/OWA, or use a script-based solution. Here's a sample script: https://github.com/David-Barrett-MS/PowerShell-EWS-Scripts/blob/master/Legacy/Merge-MailboxFolder.ps1
And the help file: https://github.com/David-Barrett-MS/PowerShell-EWS-Scripts/wiki/Merge-MailboxFolders.ps1