Thank you for your question and thanks for your purchase of W3 Total Cache Pro. I am happy to assist you with this.
Yes, you can simply remove the license from the website you are currently using it on, and save all settings. Make sure that the licensing field is empty.
Then simply add the license to the other website verify the license with the “verify license button” and save all settings.
IF you are still having trouble with this, please drop us a note via the plugin in Performance>Support or via the website so I can reset the active URL for you.