When it comes to reworks, you have to ask what is the disconnect with the champion thematically. For example old Sion's kit raised a few questions about his gameplay dissociative identity as well as its own failure to live up to a ruthless Noxian general.
For Morgana, the main problem comes from how a fallen celestial or whatever she is intended to be can be an enchanter.
Personally, I'd combine Q and W together (like you may reactivate a successful Q shot to cause the W effect), rework passive and/or E so that they work better with a vengeful approach (think of it as a more aggressive Taric). Not sure what to do for the W if current Q and W are combined. Ult is fine, though it could do more than stun after that much work (maybe pull them towards Morgana and deal damage based on how many enemies dont escape).
Example of how I'd go about it.
Passive: Damage dealt by enemy champions to allied champions gives Morgana rapidly decaying AP
Q: First Cast - Current Q; Second Cast (On-Hit only) - Current W
W: ??? (Really the Q+W combined may not be needed)
E: As Dark shield except it absorbs and reciprocates a small amount of any damage and, if it is popped provides the target with a steroid.
R: Same, except drags opponents to Morg before dealing AoE damage to each Champion (a bad workaround, yes
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