how does the equippable item model component work?

I'm making a glider item that goes in the offhand but I want it to have a 2d texture until equipped. I see that there's a component inside of equippable called item model. can I have the item model change once equipped into a 3d one that I have? I tried this and it didn't work but I was certain from the way I was understanding things that it should. anyone?