You can reuse the same ISO you previously downloaded, but if you'd prefer to download it again, that's perfectly fine.
To delete the ISO, treat it like any other file: right-click on it and select "Delete". Keep in mind, if the ISO is still mounted, you won't be able to delete it right away. In that case, locate the mounted ISO in File Explorer, right-click on it, and choose "Eject" before attempting to delete it.
If you have any questions, don't hesitate to ask. Click on the "Reply" button below my reply.