where are you.. big city name... see link below for info on planting.. section one is timing.. and where you are is definitive on timing...

https://sites.google.com/site/tnarboretum/Home/planting-a-tree-or-shrub

i have 30 years experience.. and i would not bother trying to move a tree this big... without heavy machinery... and at that point.. it would not be worth the cost [unless its a camera trick .... and its not as large as it looks in your pic ... is it over ten feet tall??? ]

i would suggest a inverse tree ring.. exposing the root flare.. and be done with it..

i cant find the right search term to give you an image of what i mean ...

from this link: https://www2.tntech.edu/tlcfortrees/protecting_trees_duning_construction.htm

this pic: https://www2.tntech.edu/tlcfortrees/images/BlockTreeWell.jpg

i did not read the article... so i dont understand the reference under the pic at the website ...

ken

@ken_adrian Adrian MI cold Z5 Thank you for your suggestion! Located in Belgium, zone 8b, and the tree is about 8 feet tall, maybe a little more.

I was thinking of renting one of those foldable mini hydraulic cranes to lift it up and then backfill under it. I’ll be removing the lawn from that planting area as part of a redesign project anyway, so I wouldn’t mind the extra work to set the tree up for success.

I’m more worried about whether the damage on its trunk is something that could affect its health down the line. Based on my limited research so far, the tree is doomed if a large enough portion of its cambium layer is damaged…

I wouldn't bother to attempt to lift it and replant. It appears the improper planting depth has created a pocket of rot that could be a serious compromise to the tree's ongoing health. It will be overly prone to other common JM issues.

Replace with one that is new and healthy and planted at the proper depth.