Press the Status button of the "On Hold" PO, and select "New"
This will open up a prompt that will give you the following options:
Add Lost Time - This is to add the time the PO has been On Hold to the Due Date of each line. This option also creates a new Revision.
Only Change Status - This will only change the status of the PO without affecting its Due Dates or Revision.
Dismiss - This cancels the status change.