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H1 Layoff / transfer to H4 or not

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  • H1 Layoff / transfer to H4 or not

    Hello,
    I recently got lay off on 01/20 (was on H1b). My spouse is also on H1 (although she already got a new offer and is working with attorney for her h1b transfer).
    I am inclined to file COS and go on H4 as part of her H1B transfer application just to maintain my status . Is going on H4 a recommended option in this case or should I just opt for any consulting company who can do immediate H1B transfer

    If going on H4 is recommended and assuming my spouse's attorney files her H1B transfer along with my H4 COS in 3 weeks from now,
    1. If I don't get a H4 receipt, and meanwhile find a job myself with a new company should I wait for H4 receipt and then file for my H1b transfer. Is there a way to cancel H4 application without receipt
    2. If I do get a receipt and afterwards find a job myself with new company, is it ok for them to file my H1B transfer and at the same time cancel H4 application.

    Basically can H4 application and H1 application run in parallel and assuming H1 approvals are much faster then H4 application, I want to make sure that my H1B transfer (whenever that happens) should cancel my previous H4 COS application (with or without receipt whatever is the case)
    please guide
    thanks

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