Update Status Bar Item Alignment/Priority - VSCode Extension

Question

I am making a VSCode extension and I want to be able to update the priority and alignment of a status bar item.

for example:

const item = vscode.window.createStatusBarItem(vscode.StatusBarAlignment.Left, 1000);
context.subscriptions.push(item);

setTimeout(() => {
    item.alignment = vscode.StatusBarAlignment.Right;
    item.priority = 0
}, 5000);

However, the icon does not move. I would appreciate any ideas or to know if it's even possible.