The URN reservation form now populates a field in the versions table, source_urn, that contains the urn of the preceding version (used in the case when a new version is created from an old, such as in the P4-to-P5 conversions). (See #6 )
The catalog_pending_import process should check this field, and create a new MODS record for the new version, based upon the old version's MODS record if it's available. Essentially, it should automate the process documented here: https://github.com/PerseusDL/tei-conversion-tools/wiki/Assigning-and-Updating-URNs#add-mods-file-for-new-urn-to-catalog_pending