This can be done in 2 places:
Edit Booking
Locate the booking you want to amend
3 dots - select Edit Booking (or Event Summary)
Find the Item you want to amend and click the 3 dots to the right > Edit
Amend the Team name > Update Booking
2. Via Results Page
The Team name will show against each competitor for a Team event when you are in the class on the Results section.
Simply over key the correct name
3 dots > Save