Yeah, that is another angle at this, but I think a lot depends on what the focus is, and why there is a change.
Things like the attributes of the mythological characters should be largely left unchanged. You can probably add or remove some responsibilities or areas of influence for some gods, but nothing too big, and any such change should be motivated by the story. Their familial relations should largely be left unchanged, though you also have some room to fiddle (like that Circe and Medea should be related, but it doesn't matter much if they're aunt and niece, or sisters, or something else).
But if a change—or perhaps better put, reinterpretation—is motivated by story, then I see no reason to hold back. Achilles as a trans woman and her mother an Amazon could make for some great reinterpretation of both his time on Skyros and of the Illiad. If Odysseus comes off as an ass in that story rather than someone admirable, it would still be fine.