How do I change Wi-Fi Hotspot settings in Ubuntu with GNOME 3?

For some strange reason the default GUI network manager doesn't provide many options. But fortunately there's another tool which does. Open Terminal and run

nm-connection-editor

A GUI network connection manager should appear which will provide more options to manage your hotspot.

Source: This Ask Fedora post

You may also try this CLI method to change your hotspot password as suggested by Akshar Patel.

I wasn't able to get the graphical tools to respect the ssid change, I was able to find a way to setup a wifi access point directly like so:

nmcli dev wifi hotspot ifname wlp4s0 ssid test password "test1234"

credit: https://unix.stackexchange.com/a/384513/61349