Reopening #3645
it was closed for an unknown reason

What were you trying to accomplish?

eksctl update iamserviceaccount

What happened?

Annotation was not updated

How to reproduce it?

See #3645

Logs

Anything else we need to know?

Versions

$ eksctl info
eksctl version: 0.63.0
kubectl version: v1.21.2-13+d2965f0db10712
OS: linux

Seems like a bug in logic to me, as it's clear that the intention of a user when running eksctl update iamserviceaccount is to update the service account definition to working state.
But it doesn't happen right now. Probably making --override-existing-serviceaccounts work with update can solve it.