Replace team rule is used to change the existing value of the team role. We can also use the replace team role when the team role for specific records is blank and would like to update with a new team role value and vice versa.
Current Account Team on specific record > Test Sales Rep.
Setup > Customize > Accounts > Account Teams > Replace Team Role
Exact Value Changing From: Test Sales Rep
Select Value Changing To: Sales Rep
Replace all blank values: If you want to update all blank values to a desired team role value.
We have replaced the value on the account record > Finished
Previous Team Role: Test Sales rep
New Team Role: Sales Rep