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I have an existing Creo drawing. Is there a way I can change the drawing "format" to a "template"? It doesn't give me that option. It seems once you choose the format option, there's no swaping it out for a drawing template.
Drawing templates are only used for creating a new drawing.
The drawing templates consist of the format and any additional information, notes, parameters, etc., that you need added to the drawing every time you create a drawing.
You can replace an existing format for another format in Sheet Setup.