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The phrase "could well change" is correct and usable in written English.
It can be used to indicate a strong possibility or likelihood of change occurring in the future.
Example: "Given the current circumstances, the policy could well change in the coming months."
Alternatives: "might very well change" or "is likely to change."
Exact(49)
That could well change as of Monday.
That figure could well change come next April.
If he gets a comfortable majority he could well change his mind again".
The dynamics of the presidential race could well change by the fall.
If he lets the demonstrations swell, it could well change the system of clerical rule.
Asked why he attended, he said it was a leading-edge project that could well change his company.
Similar(11)
This summer in India could very well change their lives and their perspectives forever!
The effect of the conflict in this small area could very well change the face of the region.
Now he's come up with an idea that could very well change the way we read it.
Napster and Gnutella offer the most ubiquitous model on the Internet, and it could very well change the way the Internet works.
If unbundling work can give a firm access to superior skills at lower prices, it could very well change your industry, too.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com