Is there an easy/fast way to update user-defined references to newer versions?

I'd like to use user-defined references (i.e. Paste as Reference) to tie documentation to designs. The reference refers to a specific version of a document, which is fine, but when documents are updated and revisioned, I need to reference the new versions. Is there any way to do this that doesn't require deleting the existing reference and doing a "Paste as Reference" with the new version? It could get very tiresome doing that for a full set of documentation, especially since they're not all in the same folder.

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