When a Trigger is created in Release, the process presents a drop-down box under the section that is labeled as "Create new release from template" and "trigger type," allowing us to choose any of the Templates from the same folder and the trigger type we need.
But when trying to modify the trigger settings like type and the template to be used these dropdowns are greyed and cannot be modified.
No, we cannot modify the trigger type and the template that is used to create a release. You need to create another trigger if you want to use multiple triggers for various events. This is to prevent triggers from impacting other triggers.