No. Correct the text and add a dated note explaining the change, so readers who saw the earlier version understand what changed.
Enough to explain what was wrong and what is correct, without repeating a harmful falsehood in unnecessary detail.
Use your source records to find dependent material, update what you control and notify others who repeated the error where possible.
For serious errors, such as wrongly naming someone, direct contact and a prominent correction are often appropriate.
Recheck the original sources, record your conclusion and consider noting the dispute if it is reasonable and material.