switch, not so much. there are bunches of values tied to specific aircraft parts, which iirc might get name changed from one model to another. so straight copy paste doesnt usually work well
modify, yes. especially singular aspects (takeoff speed, afterburner percentages). its done all the time as a modder decides this aircraft doesnt behave like they think it should. but again, its usually one or two FM aspects, not the whole thing
modify entire thing reliably with intended results? well Harry, thems is dark arts that few here truly understand. its why many versions are kinda copy and pasted (F-16C Block 30, block 40, F-4E and G etc etc)
but most people arent like me (or you it seems) and want a realistic pit (a major part of my mods is always the external appearance)
its possible, but would take a lot of effort. the most advanced avionics get by default is 1970s, anything more advanced is done with workarounds