Over a decade ago I remember being able to edit a web shortcut with Internet Explorer. I can do the same today with Firefox and have always done as far back as I remember using Firefox.
The well mastered magic to changing a url of an existing shortcut (aka bookmark) is right-click on the shortcut, select Properties, and change the url presented in an editable TextBox.
Unless I am missing something very obvious, I see no way that I can do the same with Microsoft Edge. Yes, I get the subtle differences with the new UWP apps (which Microsoft Edge is) but don't think changing a url is such a big challenge nor would I consider such an option to be dropped (on moving from IE to Edge), because updating a url is a most common task. For example, I have a SO link on my toolbar and I would like to change where it's pointing (a different active topic I would like to follow) without disturbing the URL button on my toolbar (or under a menu).
Is it impossible to edit a web shortcut with Microsoft Edge?