Pandas BUG: apply() method throwing SettingWithCopyError on trying to perform in-place operation for a column

Pandas version checks

[X] I have checked that this issue has not already been reported.
[X] I have confirmed this bug exists on the latest version of pandas.
[ ] I have confirmed this bug exists on the main branch of pandas.

Reproducible Example

import pandas as pd
df=pd.read_csv('abc.csv')

# using apply to perform some operation on a column:
df['columnname']=df.columnname.apply(lambda x: str(x).replace("original_value","new_value"))

Issue Description

The Apply operation can't be performed on a column itself. Provides the following error: SettingWithCopyError: A value is trying to be set on a copy of a slice from a DataFrame. Try using .loc[row_indexer,col_indexer] = value instead

See the caveats in the documentation: https://pandas.pydata.org/pandas-docs/stable/user_guide/indexing.html#returning-a-view-versus-a-copy

Expected Behavior

Should allow me to explicitly perform the operation on the column itself and modify the dataframe.

Installed Versions

INSTALLED VERSIONS ------------------ commit : 2e218d10984e9919f0296931d92ea851c6a6faf5 python : 3.8.10.final.0 python-bits : 64 OS : Linux OS-release : 5.10.147+ Version : #1 SMP Sat Dec 10 16:00:40 UTC 2022 machine : x86_64 processor : x86_64 byteorder : little LC_ALL : None LANG : en_US.UTF-8 LOCALE : en_US.UTF-8 pandas : 1.5.3 numpy : 1.21.6 pytz : 2022.7.1 dateutil : 2.8.2 setuptools : 57.4.0 pip : 22.0.4 Cython : 0.29.33 pytest : 3.6.4 hypothesis : None sphinx : 3.5.4 blosc : None feather : 0.4.1 xlsxwriter : None lxml.etree : 4.9.2 html5lib : 1.0.1 pymysql : None psycopg2 : 2.9.5 jinja2 : 2.11.3 IPython : 7.9.0 pandas_datareader: 0.9.0 bs4 : 4.6.3 bottleneck : None brotli : None fastparquet : None fsspec : 2023.1.0 gcsfs : None matplotlib : 3.2.2 numba : 0.56.4 numexpr : 2.8.4 odfpy : None openpyxl : 3.0.10 pandas_gbq : 0.17.9 pyarrow : 9.0.0 pyreadstat : None pyxlsb : None s3fs : None scipy : 1.7.3 snappy : None sqlalchemy : 2.0.0 tables : 3.7.0 tabulate : 0.8.10 xarray : 2022.12.0 xlrd : 1.2.0 xlwt : 1.3.0 zstandard : None tzdata : None