You can edit it. In this screenshot, you can see locations that I edited to fit my conception of the place:
Avera, Taputapuapea, French Polynesia is what iNat chose for all of them; you can see that for a couple, I added “Three Waterfalls Trail,” and for a couple others “Piscine au Barrage,” which is not an actual named place, but just means “Pool at the Dam,” a descriptor. Chestnut-breasted Munia, however, is still at the default location.
You can go back after the fact and edit the location:
In the “Where were you?” form, you can see my cursor right before the word “Avera.” I typed in "Three Waterfalls Trail, " for this one, too. Then I scrolled down, clicked “Save Observation,” and in this final screenshot, you can see that it has changed:
