There is an easier solution. Click Settings > Searches,reports and alerts > search the name of the correlation Under Actions, click Edit > Advanced Edit > and edit "action.correlationsearch.label" > Save
If you refresh the content page , it should be the new name you set it to
Upgrade correlation searches in Splunk Enterprise Security
Starting in Splunk Enterprise Security version 4.6.0, correlationsearches.conf is no longer used to define correlation searches. Instead, savedsearches.conf uniquely identifies correlation searches using the action.correlationsearch.enabled=1 parameter. The correlationsearches.conf file is deprecated.