If your image is embedded, you can't change it at run time without rebuilding the EXE file. If it isn't embedded, then it is external to your EXE when it's built and will need to be copied to the production folder along with the EXE file by your installer.
Under those circumstances, I wouldn't recommend changing the file - it'll work in development, but will likely fail in production because the installation directory will be under "Program files" and security measures do not allow modifications there without Admin access.
What I would do is store the image(s) in the user data area - and copy them there from your installer - where they can be changed without problems. See here:
Where should I store my data?[
^] - it shows where to store data and how to access it.