This can be done and there's a few older threads about this on this forum and elsewhere online. I know because I looked into making this swap on my older MS cars due to really wanting the rear cup holder. I never actually followed through with the swap because we got a 2017 and I love the rear cup holders as much as I thought I would. One thing I would say is that I despise the front section on the newer center console.
The primary reasons are that the closing lid on the newer ones makes the usable opening MUCH smaller. On the previous version I could fit two of the typical 30oz tumblers which is the common configuration we have when traveling. Now I can only fit one.
Maybe worse than that though is the fact that the closing mechanism on this covers is very unreliable and the will often fail and then won't close. I think they fail in the closed position too which may be even worse. I had it fixed a couple of times due to not being able to close (a real bummer whenever we went to a big city and I wanted to hide the contents placed there) and it was under warranty. I'm dreading needing to do that now that it's out of warranty and really wish I had the previous version of the forward area of the center console.
I agree that it looks better which is also what attracted me originally but this is a clear case of form over function. The rear cup holders are nice but the front area is a definite step back IMO. If I were you I'd not waste your time on "upgrading" to this newer one as I much prefer the older style to this and see why they went away from it completely on the newest Model S.