Steps to replicate:
When using the PUT REST API to update the content-options, the result will return an Invalid options for macro "Link" error.
The error is caused by the invalid space-key on the space field of content-options. Once a user updated the space field with the correct space-key (image content3.png), there will be no error when using the PUT REST API.
One way to improve this is to have a validation to check if the space-keys are identical. That validation is to show a warning sign if the space-keys do not match.