If the plant is healthy, I don't think changing the media would do any harm, but you might lose the flowers or they might not last as long as they would otherwise. If you feel uncomfortable with watering in sphag, I'd go for the change. Or I would learn to water very, very carefully
My first orchid is this huge noid phal that I had initially bought in actual potting soil, and I waited a year to repot and the plant was in spike when I changed the media from dirt to plain bark. It didn't miss a beat, but gave me less flowers. And when I repotted it after it just finished flowering this year, it gave 2 other spikes 2 weeks later XD
Phals are very hardy so long as you don't get water into the crown. A radical change of media might just stall it a bit, but it should be ok! My