Entity Reference Edit Link

Provides an edit link for existing content in autocomplete fields.

In many cases when you display an entity reference, it will have contextual edit links on the page that you can use to edit the content after saving the edit form.

When they are not shown, this module can provide a way to get to their edit form.

Since there is no edit form when adding new content, consider using Inline Entity Form instead, which would allow you to edit the referenced content from within the parent form.