Bophopper

I have an Avios booking to Vancouver for my wife & I & our 3 kids, on 1/4/21 till 9/4/21.
Its split into two bookings.
1. Me, First there & back
2. The other 4 of them out in business back in First.

BA just emailed saying I am downgraded to business there & back , & the rest of them coming back have been downgraded to business too.

I don't think the trip was/is going to happen anyway, given all the restrictions, but what are my options here given they've downgraded us?
Can I request new dates or just cancel for no fees?

Thanks.