I wrote an answer that I originally thought was correct. However, based on further research I've done, it seems to me I was wrong and I would like to temporarily take it down (or delete). Any suggestions?
I saw that answer, and I wondered the same thing. However, I think deletion is unnecessary. If an answer needs to be edited, it should not be deleted in the meantime, and in this case the system design hints at that direction. If you think drastic edits are needed, put a note at the start of your answer while you are working on it or waiting for the right time to do so.
I would also like to point out that wrong answers do not necessarily have to be deleted. Of course there is spam and other useless posts that serve no purpose, but well-intended answers that end up failing are actually often useful. Such an answer gives an idea (that might cross other people's minds as well) and then explains why it doesn't work. That is very useful information: it takes certain expertise to avoid pitfalls, and sharing expertise is what this site is for. I like to call answers like this "warning examples", and I have found them quite useful myself. In particular, a warning example helps anyone who wants to write another answer.
Especially when your answer has been accepted, it's good to notify the OP of any major chances in the answer, including your re-evaluation of correctness. But it is the OP's call to accept and unaccept answers. Even if your answer wasn't fully correct, it might have given the key insight that resolved the underlying issue and therefore merits acceptance.
As always, you can flag for moderator attention and explain your case. Handling non-urgent flags like this can take a while if the moderators want to discuss the matter between themselves or with other moderators of the network. We have very few flags and we don't have a per-site policy on all practical matters, so the slow way has felt most natural.
Here are some relevant posts from the network-wide meta site: