Thanks, Dan.
I was expecting it to be in the layer properties window (of which there are three for each catalog layer). It is instead here in the Ribbon:
You can also edit it directly in the LYRX, or using CIM (although I can't find it in the CIM documentation but I'm not looking too hard).
dft = lay.getDefinition('V3')
dir(dft)
['__class__', '__delattr__', '__dict__', '__dir__',
'__doc__', '__eq__', '__format__', '__ge__',
'__getattribute__', '__gt__', '__hash__', '__init__',
'__init_subclass__', '__le__', '__lt__', '__module__',
'__ne__', '__new__', '__reduce__', '__reduce_ex__',
'__repr__', '__setattr__', '__sizeof__', '__str__',
'__subclasshook__', '__weakref__', 'allowDrapingOnIntegratedMesh',
'attribution', 'autoGenerateFeatureTemplates', 'blendingMode',
'catalogDynamicGroupLayer', 'charts', 'customProperties', 'description',
'displayCacheType', 'displayFilterChoices', 'displayFilterName',
'displayFilters', 'displayFiltersType', 'enableDisplayFilters', 'expanded',
'extrusion', 'featureBlendingMode', 'featureCacheType',
'featureElevationExpression', 'featureElevationExpressionInfo',
'featureSortInfos', 'featureTable', 'featureTemplates', 'footprintLayer',
'htmlPopupEnabled', 'htmlPopupFormat', 'isFlattened', 'layer3DProperties',
'layerElevation', 'layerMasks', 'layerTemplate', 'layerType',
'maxDisplayCacheAge', 'maxScale', 'maximumVisibleSublayers', 'metadataURI',
'minScale', 'name', 'pageDefinition', 'polygonSelectionFillColor',
'popupInfo', 'rasterizeOnExport', 'refreshRate', 'refreshRateUnit',
'searchable', 'selectable', 'selectionColor', 'selectionSymbol',
'serviceLayerID', 'showLegends', 'showMapTips', 'showPopups',
'sourceModifiedTime', 'sourcePortalUrl', 'sourceURI', 'transparency', 'uRI',
'useSelectionSymbol', 'useSourceMetadata', 'useVisibilityTimeExtent',
'visibility', 'visibilityTimeExtent', 'webMapLayerID']