Is it possible to edit documents in the Vault?
No, it is not possible to edit or replace documents in the Vault. If you want to share an updated version of a document, you can separately upload it to the Vault. Users will be aware that they are viewing a different document, and they will get a notification email.
You can delete the old document. Keep in mind that the document will be moved to the recycle bin and permanently deleted after 90 days. Visit Recycle bin to learn more about this feature.