How to change definition of a Postgres 12 GENERATED column
I'm not sure this is the correct answer, but reading the docs about ALTER TABLE I would say: No, you can't.


  where action is one of:
  
  ADD [ COLUMN ] [ IF NOT EXISTS ] column_name data_type [ COLLATE
  collation ] [ column_constraint [ ... ] ]




and column_constraint is:

[ CONSTRAINT constraint_name ]
{ NOT NULL |
  NULL |
  CHECK ( expression ) [ NO INHERIT ] |
  DEFAULT default_expr |
  GENERATED ALWAYS AS ( generation_expr ) STORED |
  GENERATED { ALWAYS | BY DEFAULT } AS IDENTITY [ ( sequence_options ) ] |
  UNIQUE index_parameters |
  PRIMARY KEY index_parameters |
  REFERENCES reftable [ ( refcolumn ) ] [ MATCH FULL | MATCH PARTIAL | MATCH SIMPLE ]
    [ ON DELETE referential_action ] [ ON UPDATE referential_action ] }
[ DEFERRABLE | NOT DEFERRABLE ] [ INITIALLY DEFERRED | INITIALLY IMMEDIATE ]


It seems that the only command that allows column_constraint is ADD COLUMN

In fact you can add a constraint name to the computed column:

val_sum int4 CONSTRAINT GA_test generated always AS (val_a + val_b) stored