Error Setting new vertice coordinate values in python - 'BMVertSeq' object does not support item assignment

Question

I have a model containing two meshes which need to be resized with python. Let's call them an artwork and a frame.

I want to resize the artwork depending on parameters passed in, but for simplicity have specified a width and height in the code below.

Once I have resized the artwork, I want to resize the frame to fit around it. What would be the best way to calculate this and the set the new vertice positions on my frame? In the code below the frame is 0.01349312067 thick. The frame has an inner edge and an outer edge.

So far, just trying to get the height correct, I have run into an error of 'BMVertSeq' object does not support item assignment when I try to write the new vertice values.

Any suggestions on how to make this work, or even a completely different approach are very welcome. Thanks

import bpy
import bmesh
artworkData = bpy.context.scene.objects['Back1.033'].data
frameData = bpy.context.scene.objects['Frame1.034'].data
imgWidth = 744
imgHeight = 1000
multiplier = 5
artworkMesh = bpy.data.objects['Back1.033']
frameMesh = bpy.data.objects['Frame1.034']
artworkMesh.scale = ((imgWidth / 10000) * multiplier, (imgHeight / 10000) * multiplier, 0.015)
artworkData.update()
frameData.update()
art = bmesh.new()
art.from_mesh(artworkData)
art.verts.ensure_lookup_table()
vert0Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[0].co.xyz
vert1Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[1].co.xyz
vert2Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[2].co.xyz
vert3Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[3].co.xyz
vert4Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[4].co.xyz
vert5Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[5].co.xyz
vert6Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[6].co.xyz
vert7Coordinates = bpy.data.objects['Back1.033'].matrix_world @ art.verts[7].co.xyz
import array as arr
artHeights = arr.array('d', [vert0Coordinates[2], vert1Coordinates[2],vert2Coordinates[2],vert3Coordinates[2],vert4Coordinates[2],vert5Coordinates[2],vert6Coordinates[2],vert7Coordinates[2]])
Store the highest and lowest points of the artwork so we can calculate the frame from this
maxArt = -100 
minArt = 100
for x in artHeights:
  if x > maxArt:
      maxArt = x
  elif x < minArt:
      minArt = x
frame = bmesh.new()
frame.from_mesh(frameData)
frame.verts.ensure_lookup_table()
vert0Coordinates = bpy.data.objects['Frame1.034'].matrix_world @ frame.verts[0].co.xyz
#Set to minArt - 0.01349312067
new_location = vert0Coordinates
new_location[0] = new_location[0]   #X
new_location[1] = new_location[1]   #X
new_location[2] = minArt - 0.01349312067
frame.verts[0] = bpy.data.objects['Frame1.034'].matrix_world.inverted() @ new_location #This is the line that causes the BMVertSeq mentioned in the question
and so on.... setting the coordinates for all 16 vertices.
frame.to_mesh(frameData)
artworkData.update()
frameData.update()