sure, it can be done. Check out this article. In this step:
Install a new version of Bitnami Odoo (or deploy a new server).
as you wished, don't redeploy but reinstall the stack. Remember stopping the stack services with
sudo /opt/bitnami/ctlscript.sh stop and moving the stack contents somewhere else (for example execute
mv /opt/bitnami ~/odoo.bak) before installing the new stack.
If there is anything you didn’t fully understand, please, don’t hesitate to ask us again. We’ll be more than glad to help you.