You did not specify the model of your "older" Apple TV but it must be the Apple TV 4K (1st generation) or earlier. Only the Apple TV 4K 2nd generation, and the 3rd generation support thread.
However, the I think I am correct in saying that the Apple TV 4K 1st generation is capable of being a home hub and if so therein lies your problem if your thread devices are being silenced when this older device becomes the home hub.
Apple's support document Set up your HomePod, HomePod mini, Apple TV, or iPad as a home hub says
Thread-enabled Matter accessories require a Thread-enabled home hub, such as HomePod mini or Apple TV 4K (3rd generation) Wi-Fi + Ethernet, or a supported third-party border router.
The implication is that you need to update your old Apple TV with an Apple TV 4K 2nd generation or 3rd generation if your thread devices are to function properly. This is also the message given in If you see a 'Thread Border Router Required' alert on your iPhone or iPad:
Set up a supported third-party Thread border router or set up one of these devices as a home hub:
- Apple TV 4K (3rd generation) Wi-Fi + Ethernet
- Apple TV 4K (2nd generation)
- HomePod (2nd generation)
- HomePod mini
Other Apple TV and HomePod devices are not compatible with Thread network.
To address your message line - rather than the question under it - the device designated as a home hub will change if you have more than one. This is an automatic function determined by the Home software and not one the user can control.