No. You can't edit an audience after it's created. Name, rule and retention period are fixed, both in Ads Editor and in Meta itself (this is how Meta handles audiences). The Create Audiences page only has actions to create (in bulk) and delete. There's no option to edit an existing audience. In practice, create a new audience with the adjustments you want (bulk creation is quick) and, if you like, delete the old one from the progress list. If you need a one-off edit (such as renaming), you can also do that directly in Meta's Audience Manager.