Hairstyle changes make sense, you could even have an NPC hairdressing-shop where you go and get it, as a once per character / per year option.

I do not agree with what some people have said over the years about race-change options though. I feel that would harm the RPG integrity of the game, where you are a living person who was born a certain race and goes through life in the normal way after that. But hairstyle changes make sense 100%.