I was about to say that. Returning to.... and Returning To... An Artist's Tale.
Basic plot:
Written during the great financial crisis, when unemployed adults were returning to live with their parents, a movement begins "raise them again, but do it better this time". Young women end up signing "legal papers" to allow their parents to return them to childhood. It's a long story as it covers the slowly shifting world. Some girls make it out of having to return to childhood, others become younger girls. If you want to read it off line you can buy a copy of it at
https://www.lsfpublications.com/index.php?id=976An Artist's Tale is a much shorter story set in the same world, where a young artist accepts a return to childhood for everything except her art. She makes some progress, and even has a show. And yes, there are spankings in both stories.