Starting with 22H2 edition of Windows 11 it seems impossible to rename Bluetooth devices. Folks at Microsoft was cleaver enough to figure out that you don’t need such functionality. Nice.
Pity that I really need it, because I have two exactly the same headphones (one at home and one at office) that does not support auto-connect and must be manually connected. I never know which one I am connecting, because both are named “Edifier W600BT” in my system.
The only solution that I figured out is to use tiny software called BtDeviceRenamer (here is a direct link to downloadable .exe file). Please, be aware that since it directly interface with devices, it can (and probably will be) detected by Windows or your anti-virus software as a possible threat.
EDIT: Nope, even this one fails. Windows 11 enforces its own name upon next login or after just a couple of minutes. Thank you, Microsoft, for knowing better what we need or want.