No, it is not possible (and never was). There is absolutely no way to move any content between two different TiVo boxes by moving a drive. The ONLY way to move any program between two different boxes is to use the functioning TiVo box to either copy the program directly between two boxes (with horrible TE4 software, this can only be done thought their online web site), or to use the functioning TiVo box along with a tool like pyTiVo to copy the program to a computer and then to a different TiVo box.
On the other hand, if you are asking about moving the bigger drive into you old Bolt, and then restoring the current programs that are on the 500GB drive to the bigger drive while using it in the SAME BOX where the programs are now, then yes, that is easy to do. But you must be careful to do everything in the correct order, or the Bolt will wipe all your recordings when it first boots up with a different drive in it. That means that all your current recordings must be properly moved to the new drive BEFORE it is booted the first time in the current Bolt. Many threads on that process in the upgrade forum.
Frankly, considering how unreliable these toy drives on in Bolts, I would never waste my time and risk my recordings to try it with a used drive. My option would be to buy a new 3.5" 3TB drive and use that to upgrade the original Bolt.
On the other hand, if you are asking about moving the bigger drive into you old Bolt, and then restoring the current programs that are on the 500GB drive to the bigger drive while using it in the SAME BOX where the programs are now, then yes, that is easy to do. But you must be careful to do everything in the correct order, or the Bolt will wipe all your recordings when it first boots up with a different drive in it. That means that all your current recordings must be properly moved to the new drive BEFORE it is booted the first time in the current Bolt. Many threads on that process in the upgrade forum.
Frankly, considering how unreliable these toy drives on in Bolts, I would never waste my time and risk my recordings to try it with a used drive. My option would be to buy a new 3.5" 3TB drive and use that to upgrade the original Bolt.