ACTUALIZACIÓN de SQL en un rango SELECCIONADO sobre la oración de partición

Podría unirse a la subconsulta y haz una ACTUALIZACIÓN :

UPDATE table_name t2
SET t2.rank=
  SELECT t1.rank FROM(
  SELECT company,
    direction,
    type,
    YEAR,
    MONTH,
    value,
    rank() OVER (PARTITION BY direction, type, YEAR, MONTH ORDER BY value DESC) AS rank
  FROM table_name
  GROUP BY company,
    direction,
    TYPE,
    YEAR,
    MONTH,
    VALUE
  ORDER BY company,
    direction,
    TYPE,
    YEAR,
    MONTH,
    VALUE
  ) t1
WHERE t1.company = t2.company
AND t1.direction = t2.direction;

Agregue condiciones requeridas al predicado.

O,

Podrías usar MERGE y mantén esa consulta en USING cláusula:

MERGE INTO table_name t USING
(SELECT company,
  direction,
  TYPE,
  YEAR,
  MONTH,
  VALUE,
  rank() OVER (PARTITION BY direction, TYPE, YEAR, MONTH ORDER BY VALUE DESC) AS rank
FROM table1
GROUP BY company,
  direction,
  TYPE,
  YEAR,
  MONTH,
  VALUE
ORDER BY company,
  direction,
  TYPE,
  YEAR,
  MONTH,
  VALUE
) s 
ON(t.company = s.company AND t.direction = s.direction)
WHEN MATCHED THEN
  UPDATE SET t.rank = s.rank;

Agregue las condiciones requeridas en la cláusula ON.