This is a decision for the department. Placements may be called intercalated years, study placements or similar. Neither the Good Practice Guide nor the external Quality Assurance Agency UK Quality Code are prescriptive about the title of a degree involving placement learning.
Question 2 on the Part 3 course proposal form (which must be completed to obtain approval to introduce a placement) asks about the nature of the placement and lists a number of options. This is not prescriptive and more than one could apply (eg an Erasmus year would also be classed as a study placement and both boxes would apply). The part 3 form is concerned with the arrangements for and structure of the placement and not the degree title.
For consistency, the department may wish to consider the title of other degrees it offers with placement learning, and/or the title of similar degrees offered within the Faculty or wider University.