I see the Make Query Layer in the Data Management->Layers and Table Views Toolbox which is great.
I would also like to know if there is the ability to edit a Query Layer, that is already created, through python. In my scenario, I see many Query Layers created with an Oracle 11g Client connection. If the back end database gets updated to Oracle 12c (which my organization will probably do within the next 2 years), I would want to update the Query Layer to use the Oracle 12c Client connection instead of the Oracle 11g Client connection. Is this scenario currently possible through python?