One thing I would try is setting up a 10.04 virtual machine on a non prod box to try out any fix first. You can use VirtualBox if you don't have a vm host already. Install the repository erlang package to replicate your prod issue.
Once you have a safe environment to play in, try using the --auto-deconfigure
option mentioned in the error message to get rid of the old Erlang version and install the new one.