+1 for decoupling. You can "delete", and then post a new one.

Clients following the delete request can choose how to display it in the UI.

In all other clients, it would be cool if it just looks like a quote tweet of the old note.

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Benefit of quoting each of the edited versions - you can wee what engagement/comments were there with the specific previous versions of the note.

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UX-wise, in terms of other users experience (who might have responded/boosted/quoted) your old note - I don't see any clean way how to allow edit without actually NOT hiding the previous versions.