H4 currently in US, H1B in progress - can I travel abroad

Hi, currently I am in the US on H4 visa. I applied H1B under premium processing and it got selected in lottery.

Can I travel abroad and return in H4. Would this impact my H1B petition in any way

I read conflicting opinions that H1B will be denied or approved with consular processing.

Would it make any difference if I travel after the H1B petition is approved?

If COS was applied, then the same will be abandoned. If you want to travel outside and have applied for COS, then this is what you should do - wait for petition approval, then travel outside and return to US prior to Oct 1. Your COS would still go into effect from Oct 1 as it was approved for a future date.

Run this by your attorney as well.

Thanks Sourabh. So you are saying that the H1B petition can be approved, but only with consular processing ( no COS) ?

If so then i guess i will go forward with the travel, because i would be able to apply COS later too ( or go abroad and get H1B stamped)