Iris devices are usually rock-solid, surprising one would drop off. I've only used Iris motion sensors and leak detectors, but I've never had one fall off my mesh w/ST or w/HE. Is it far removed from your other devices?
Most WiFi routers have the capability to hop around to find the "best" channel so thats a possibility that's worth checking out even if not the cause:
Agree with the others - you don't need to delete your device - that's only true for Z-Wave and even then there are ways to handle it by carefully playing around with the DNI..
No, it means factory resetting the device. Then put it in zigbee pairing mode as well as the Hubitat in zigbee pairing mode.
The device will rejoin with its pre-existing device name and id.
However, your post made me think of something else - when is the last time you changed the battery? Iris v2 sensors are very stable on Hubitat, unless the battery is very low.
The process isn't the same. However, if you have a C-7 Hubitat and a device has failed (hit Repair a few times until it says Failed - you may have to unpower the device), you can replace a Failed device with itself. Assuming that the Failed device has just fallen off the mesh and is not genuinely defective.
If you're on 2.3.1 or later (on any hub model), you can also just pair the Z-Wave device as a new device, then use the new Settings > Swap Apps Device feature to replace the device with the other, hub-wide, effectively creating the same result without needing to deal with the sometimes-picky Z-Wave Replace feature. I'm not sure either will work if the device also has child devices, but for most devices, either should.
Note that in either case, you'll need to have the device excluded and/or reset so that it's ready to be included again. You can't use this hub to exclude the device (otherwise, it will also remove it from your device list), but you could use another controller or reset the device, which with most, will also "erase" any memory of inclusion it has.