IR Spot and ‘Out’ Designations

Bit of a weird question but not sure how the IR spot works in the case of Tyreek Hill as he’s not going on IR. At some point the Chiefs will clearly mark him as OUT - does that make him eligible for the IR Spot on sleeper?

I’m mainly asking because I want to pick up a QB to stream in place of Kyler’s awful BAL match-up. I’m hoping I can use the IR spot to pick up the QB without dropping any of my other players, then when Hill loses his OUT status after the game (until he’s OUT again a few days later) I can drop that QB freely as I don’t want him anymore. Is that possible?