El error es de postgres, no de django. Puedes reescribir esto como:
WITH v_table_name AS
(
SELECT row_number() over (partition by col2 order by col3) AS rn, primary_key
FROM table_name
)
UPDATE table_name set table_name.col1 = v_table_name.rn
FROM v_table_name
WHERE table_name.primary_key = v_table_name.primary_key;
O alternativamente:
UPDATE table_name set table_name.col1 = v_table_name.rn
FROM
(
SELECT row_number() over (partition by col2 order by col3) AS rn, primary_key
FROM table_name
) AS v_table_name
WHERE table_name.primary_key = v_table_name.primary_key;
Esto funciona. Acabo de probarlo en postgres-9.6. Esta es la sintaxis para ACTUALIZAR (consulte la fromlist opcional ).
Espero que esto ayude.