This is distinct from the FCC application they have made for another Starlink shell in VLEO (~330km) for another 15000 satellites to better serve cellular phones.
Maybe it is also linked to the falling altitude of the ISS? 480km is about the upper bound of its altitude but they seem unlikely to actually raise it that high before it is deorbited.
Two weeks ago, a Starlink satellite exploded. SpaceX believes it wasn't caused by a collision which means the explosion was probably caused by a malfunction in the satellite itself. Now 4,400 Starlink satellites are moving to a lower orbit for "safety". Is this an emergency change to account for a design flaw that they just discovered?