Yes, but replace it with what? The OP is already planning to replace the cable, and my comment was in response to his comment that he cannot find brown T+E (which hardly surprises me!). If he wants brown, his choice (in terms of material which a DIYer can handle) probably comes down to painted or sleeved T+E, or some sort of flex (which, as has been discussed, is not very 'nice' for fixed wiring, even if allowed).Bit of a faff, though. Since it would have to be disconnected at least at one end, why not just replace it?
Kind Regards, John