Ideally this could be a selection via the "Update record item", this would make it easier for Service Desk agents that have the role to easily integrate this action. An API would be handy in that this could be done by script if a number of tickets require being converted - this would also be usable in the process tab.
Why?
Having the ability to convert will allow creation of a "Master" ticket for a particular product and also allow the catalog items to convert into incidents if you wish to implement tasks/ approvals in your workflow. Really in a similar way you would create a prototype fix in a UAT environment and then seek approval for deployment.
This would also allow conversion via keywords, if a service user chooses the wrong ticket type.