If an artist has changed their name, the artist entity should likely be renamed. however, the original releases should still have the old credits. you can create a new set of releases with the new artist name if they’re marketing the old releases with the new name. just set the release date to when they started using the new name, if that’s known.
here’s another similar example, in this case a name change by the label:
this might be a case to use the “withdrawn” release status, like I did above. you might look here for advice and other examples