Before you proceed you should be aware about a couple of things to consider:
1. The way VMs are searched and identified in vCenter Server/ESXi host/Other vCenter Server are different, meaning that every object will have its own unique IDs.
2. If you change source for VM data backup (from vCenter Server to ESXi host, etc), you will need to run full backup/replication cycle.
3. Full backup/replication cycle means that you will need to re-create your backup/replication jobs and map VMs registered in the second vCenter Server to their existing backup copies via advanced backup job settings.
4. Once you do this, old restore point will age out according to your retention policy settings and will be removed from the backup chain. For replication jobs, all existing restore points will be removed and replication jobs will start from scratch.
Let me know if you have any further questions.