Final answer:
The electric field at distant points will eventually change, but with a time delay due to electromagnetic influences propagating at the speed of light.
Step-by-step explanation:
The electric field at each point in space will indeed change in direction and magnitude with the varying position of the source charge. This is not an error with Coulomb's law, but rather a consequence of the fact that electromagnetic influences travel at the speed of light. While the fields far away cannot undergo immediate changes, they will eventually experience the influence of the moving charge as the information of its new position propagates at the speed of light. Therefore, the electric field at distant points will eventually change, but with a time delay.