Development on this ride started well before Encanto was suggested as a property going to BBTM. It’s unclear how long after D23 2022 Disney shifted to the Tropical Americas concept for Dinoland, but it’s safe to say that WDI was deep into development of the Encanto ride.
So the question is, to what extend were they willing to go back and change things about the ride to better fit the themes of DAK? Small things like the dialog are simple to change. If this ride does in fact use the LPS ride system as rumored, it would be relatively easy to make tweaks to the ride path. But I doubt they would want to reconfigure the entire layout of the show building, for example, to support a total rewrite of the story.