Visiting on B1. Also have H1B stamped. Change of Status to H1B?

I’ve been in US on H1B for a few years.
A few years ago, I moved back to home country. I happened to get B1/B2 visa and travelled for business a couple of times.
A few months ago, got cap-exempt H1B stamped based on my earlier H1B. It is still valid.
Since this stamping was done, I haven’t travelled to US for personal reasons. The end client contract through which I got this H1B is no more valid. So, I was told that I can travel on this H1B only if I have a new I-797, obtained through H1B petition approval with a new end client contract .
I am traveling to US for a friends meet up as a visitor for a few weeks. Is it risky?
Hypothetically, while there as Visitor, is it risky for applying for COS (with a new contract and H1B amendment)?

Thanks,
Prem

You can use already stamped B-1/2 visa to travel and meet your friends. As long as you return timely to India, you should be fine.

Filing COS from B-1/2 to H-1 could be risky. USCIS can question your intent and could lead to denial. Even when COS is applied, who will be your end client? You still need to get H-1 amendment and LCA filing done irrespective of whether you go COS route or apply while in India.

Thank you Saurabh.
I meant, if there is a new client offer in hand, would applying for COS be risky?

It could be risky depending upon when it is applied. If applied after 90 days of entering US, then it may still get approved. If applied within 30 days of entering US, then it may get denied. Look-up 30/60/90 guidance.