Hello,
You can re-name the child theme, but do not change name of parent theme there.
Check this topic – https://www.8theme.com/topic/failed-to-update-the-update/ You can re-name the parent theme later when work on the site will be finished, but we won’t recommend it.
Also, check – https://xstore.helpscoutdocs.com/article/108-white-label-branding-plugin
Regards