Hi, Kelly Appel
Welcome to Microsoft Community.
I realize that you've encountered a problem with Loop components that you have sent a Loop component in Outlook which is read-only and want to find a way to make it editable without having to create a new link.
To your issue, we have tested and found that there is no way to edit once this link is created. And this forum is primarily a technical communication platform and the Microsoft development team will not be concerned with this forum.
So you can post a question or idea (with as much detail as possible, including pictures, copied videos, etc., if convenient) about permission with Loop component on the dedicated feedback platform, where a dedicated developer will pay attention and comment on your feedback. After sending your feedback, you can share the feedback link in this forum, so that other users with similar issues, including me, can vote for your feedback, the more votes the more likely to get the attention of the development team.
Thank you for your cooperation!
Best Regards,
Cece | Microsoft Community Support Specialist