Evan, thanks for this question. From what you’ve presented, it sounds like you’re asking about a quotation, which is a sentence or group of words repeated by someone else. The use of the quotation marks denotes verbatim, word for word. With that, my response to your question is no, you cannot alter a direct quote of what someone has said. Otherwise you dilute if not misrepresent the words found inside the punctuation (quote marks).
To change the person from 1st to 3rd as you’re desiring, you would want to try paraphrasing, which is rewording or reworking a quote while preserving its meaning. In this case try:
1) He said that in consequence, he’s inclined to reserve all judgments.
or you could try:
2) He said in consequence, “I’m inclined to reserve all judgments.” See the difference?
I differ from the other tutor’s response and would argue (heavily) against it because it is an incorrect application of quotes, based on my experience.
I am a journalist (CNN, AP) with more than 25 years in newsrooms and am sharing with you AP style and traditional newswriting, which considers the ethics of direct quotes and the importance of preserving a speaker’s verbatim dialogue.
Lastly, I would add that context matters so it’s always helpful to provide background, is this fiction or non-fiction, academic or journalism, poetry, playwriting, etc?
Hope that helps.