Here are the following options and the risks associated.
1. Pursue an enhancement request to display the Name instead of the ID.
2. Change the existing input type code ID.
This is high risk since the table column PPA_WIP.input_type is referenced.
3. Deactivate the existing input type code and create a new input type code.
This is low risk as it will show change history and does not affect past financial transaction history in PPA_WIP.
Users will be accustomed to the new value/code and any custom reporting can be easily maintained.
Option 3 would be the best choice.