Anytime you put seats back into inventory, RM/IM will determine how to allocate them, including whether to make them available at all. It may be that demand is higher than predicted, in which case the seats will not be released for awards, it may be that the flight is overbooked moreso than makes RM/IM comfortable and the seats won't be released at all.

Bottom line is that nobody, including anybody at CX knows what will happen at some point in the future and yours is a very risky strategy.