That means parity is no longer valid, as there were writes to the array committed to the parity drive that were destined for the emulated drive. Since that emulated drive doesn't match the physical drive, parity isn't accurate for the 4TB.
Yes, but it's not unchanged, as a write to it failed. Unraid only fails and emulates drives when a write fails, that write is then only able to be sent to parity.
You certainly can try what you are proposing, but the chances of getting everything back is pretty low. At the very least I'd expect unmountable drives that would need file system repair, probably also corrupt files.
To do what you are saying you need a temporary drive to assign to the 4TB slot after doing a new config and putting all the drives back in the correct slot. Start the array in maintenance mode, being SURE to check the box stating parity is already valid during this process. Stop the array, remove the temporary 4TB drive, then start the array to allow the 4TB slot to be emulated from parity.