From a data perspective, as long as the user making the update has write access to the Business Application, they can change the Life Cycle Stage and Stage Status to any other value. There are no OOB workflows or restrictions to this action and there is no parameter to set a time-frame.
The above is strictly referring to the OOB record data itself, and does not factor in any customizations you may have or consider the real-world infrastructure and services that may have been deactivated with the Business Application.
If there is a reactivation time frame required, a minor customization could be created to block reactivation (ex/ use a retired date field and an ACL with data condition on that date).
