Bryan Hall We had multiple RDS servers with Pro Plus installed via the ODT where we had E3 and Microsoft 365 Business Premium activated at the same time on the same server. We have not had to change the install and it's been over a year with no activation issues. I have not tried it the other direction with Business installed and E3 activated, but I have a hunch it would work. That being said. I would think you are safer installing pro plus since it has the larger feature set.
Our experience with single activation computers is that after swapping the license on the back end, 95% of them automatically convert from Pro Plus to Business the next time the activation token expires. The other 5% will have activation issues that require troubleshooting on the endpoint.