H1B transfer and H4 > F1

[rajh1query]

Hi,

I have valid I-797 till 2020.

I will be joining new company in first week of Nov. I will be joining on receipt notice.

As premium is stopped, it may take few months to complete the processing.

Let's assume that I may get rejection by Mar End.

My wife wants to join College on F1 in Jan. So, will do COS and send documents to USCIS for F1 processing.

Now,

1) can we process for F1 when my H1 Transfer not approve.

2) If I get rejection by Mar end, Her F1 also may not came. Can I move my self to F2 while F1 is still not processed and stay in the country?

or I need to move and she can still stay and continue her study.

Thanks

Raj