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EB2-to-EB3 downgrade; Approved I-140 from previous employer

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I had an approved I-140 (EB2) from my previous employer with priority date of Sept 2014. We had initiated the process in EB2 with my current employer but during pandemic documentation didn't reach USCIS in time and it got rejected despite a follow up request to USCIS.
Is the "downgrade to EB3" applicable to me ? If yes how much time does it take ?
in order to switch to EB3 we'd just need to reinitiate the whole perm and I-140 process and file it in EB3 ?

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You can looking the option of switching to your old employer to process your application with concurrent filing of EB3 downgrade.

If old employer is not an option ideally most of them suggest traditional perm and I-140 route which takes more than 12-15 months to get PERM approval, Once you have perm approval you can apply I140 and 485 concurrently .

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