Hi Dharmesh,
Yes, you can go ahead and do a Web-app deploy only. This is a possible way to reinstall Jaspersoft, whilst keeping the current JS database.
I have tried this previously and had no issues. We can then change the default_master.properties, update the files and update them in the Tomcat folder to 'standalone' if needed. I did not need that on my test environment. If this is for a non-Production environment you can definitely do this.
Alternatively install a new Jaspersoft with a new database, and once done, point it back to your existing database in the context file. The steps for this can be found here:
https://communities.ca.com/thread/241740469
Please let us know how it goes.
Thanks -Nika