YES! as a matter of fact you can!
I assume you are using an ''Enterprise'' license since you refer to it as ''QC''.

If using Enterprise license:

First, you need to add the site parameter:
SHOW_LAB_PROJECT=Y

Then you can see the existing LAB_PROJECT in the site projects list/tree (if it exists).
Then you can ''remove'' it and ''restore'' the other one as you usually do with other projects.
You can also do verify/repair/upgrade and ''activate'' as usual.

If using an ALM license:

You can see the ''Lab Management'' tab.
Here you can do remove/restore (careful with restore as you must use the BUTTON from the button bar for that), verify/repair/upgrade and ''activate'' as usual.

Since LAB_PROJECT is really only used with the ALM license, you can remove the site parameter (or set to ''N'') from an Enterprise License instance after it is working again.