Nope. Sessions would NOT have to go through another confirmation hearing with a lateral move.
Not to take the job as "acting." That works for about a year. After that, the "acting" assignment has to be confirmed.
So AG Sessions is moved, infuriating his conservative allies in the US Senate? How does that work out, getting another AG confirmed? Maybe the dems could get together with McCain, Collins, and Murkowski and confirm Loretta Lynch (very slight exaggeration). Without AG Sessions, you'd have swampthings at Justice run amuck. Haven't you noticed? There seems to be a lot less leaking and defiant acts from Justice since AG Sessions started draining that swamp.
Give up on this idea. President Trump and his family and his supporters who've been honest about things haven't done anything wrong. Let "Russia, Russia, Russia" play out. Who wants an AG that's totally absorbed with the coup's attempt to keep the Department too occupied to do its job? He didn't just do the legally correct thing recusing himself, he did the smart thing.
I repeat, removing or moving AG Sessions is not acceptable.