Is there a way to convert a prop to an accessory?  I'd like the prop (in this case, a ring) to attach to the finger and move with the finger.

After creating  ring  Accessory, and placing it on finger, send selected item, to iClone. Then in custom Accessory folder, double click on ring, and it will automatically 
be attached to finger of Avatar. If you want to make ring or Accessory a prop, just right or left click on item and detach from Avatar. 
My previous post was incorrect, when I said you could do this in CC. 

It isn't possible to create an accessory in CC by right clicking on a prop and attaching it to a character. You have to either import an .obj/.fbx file as an accessory or use iClone for the purpose.

Gerry

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System: Win 10 Pro (21H2), Asus X99-E WS, CPU i7-5930K -3,5 GHz, 32 GB DDR4 2666-16 RAM, NVidia GTX 1080 Ti GPU - 11 GB VRAM(Driver Studio-536.99), Samsung 850 Pro 512 GB SSD, 6 TB HD storage.

Thanks, I'll try that.