As far as I understand you have designed already your tests and you now need to edit in a way to execute the tests against another environment, which only has different baseUrl.
Test Studio provides you the functionality to apply a BaseUrl when initially start designing your tests and project. In such case you decide what compare mote to use for the elements and these will be recorded in regards the applied settings. Then you can change the BaseUrl only and execute the tests against the other environment.
However, it seems that it is too late for this option and you will need to maintain the already recorded elements. When Test Studio records an element, it is associated with a page and, optionally, frame - both these use URLs, captured at the time of recording. So, to adjust the project to be executed against the second environment, you will need to go through the Page and Frame nodes and adjust their properties - here is some additional information on merging pages in the Element Repository. I guess that you will need to change the CompareMode for each of the nodes to use FullPath or BaseUr (instead of the default FullPathAndQuery)l, but this will depend on the tested environment. When you start maintaining the project, do not miss to change the project setting in step 9, as well, what compare mode to be used - that way you will prevent any possible duplication of elements in the future when adding new elements.
You also need to configure all "Navigate to" steps to have only the part of the URL that is not the baseUrl. A quick example is to replace the original URL from "https://www.bing.com/news/" to "/news/" and set "https://www.bing.com" as the baseUrl.
The baseUrl project configuration will also be used in all test list, if there is nothing set in the test list settings.
I hope this information will be helpful for you. Of course, if you have further questions or need guidance on the topic, I will be happy to assist you.