Unfortunately, such edits are rarely accepted. The intent was for the site to be more wiki-like, but these days "respect the author's intent" is the prevailing wisdom. The cases where someone edits a top answer with a significant correction or update are very few, and require overwhelming community support or they'll be reverted.
This is particularly distressing in the case of security vulnerabilities. Vulnerable code being copied from Stack Overflow into consumer applications isn't hypothetical, it's been empirically demonstrated (https://www.aisec.fraunhofer.de/en/stackoverflow.html), yet the community and company refuse to accept responsibility and address the problem. (Of course the developer creating the application is more responsible, but Stack Overflow is in a position where they could help protect innocent end users and the common good.)
Pinning of accepted answers to the top of the list was a good idea when the site was young. These days, it prevents updated better answers from taking the place of ten-year-old misinformation.
This is particularly distressing in the case of security vulnerabilities. Vulnerable code being copied from Stack Overflow into consumer applications isn't hypothetical, it's been empirically demonstrated (https://www.aisec.fraunhofer.de/en/stackoverflow.html), yet the community and company refuse to accept responsibility and address the problem. (Of course the developer creating the application is more responsible, but Stack Overflow is in a position where they could help protect innocent end users and the common good.)
Pinning of accepted answers to the top of the list was a good idea when the site was young. These days, it prevents updated better answers from taking the place of ten-year-old misinformation.