This GNU sed gives the desired result
$ sed 's/\(.\)\(START\|END\)/\1\n\2\n/g' file | \
sed -ne '/START/,/END/s/_this_//' \
-ne '/START/,/END/y/as/45/' \
-ne '/START/,/END/s/modi/\U&/g;p' | \
sed -z 's/\n\(START\|END\)\n/\1/g'
aomodi3hriq32| ¶³r 0q93aoiSTARTi5_to_be_MODIfied_ENDaqsdofuha23uru| ²23i ii3uhfia
oawpo3<9"§ A hSTART4l5o_need5_MODIfic4tion_ENDqa 032/a237(°1Q"§ >A_this_
START ch4ngeme ENDnot_this_modias