I'm using 3.1 and following these steps and also still getting the dreaded red exclamation mark as well. It is mighty annoying to have to change the source data by going and selecting the feature dataset, then the feature class for some 50 items in a project. EXTREMELY tempted to go back to the source doc in arcmap and change it there and then re-import back into pro. At least in desktop catalog IT WORKS RELIABLY for the change in data source.
I echo, Has a solution been found?