Here is another potential (indirect) bad consequence.
If there is some network monitoring system in place, changing any device name can generate false errors.
This includes the Diagnostics of Siemens canned system functions, especially if the Topology is fully configured, i.e. all devices, cables, ports, names etc.
This also includes the Diagnostics programmed into the HMI programs on other WinCC panels or HMI stations.
Everything will continue to operate, but there might be false errors.