Hi Vignesh,
tought situation, im waiting for my AOR currently, i applied December 6th(received date) 2019, and waiting for AOR currently. My wife's work permit is good till September 30,2020. so in my case i thought i would get the AIP by then, that's why i didnt apply for the OWP, but i do understand in your situation its little different.
don't count my opinion as legal but you have 2 choices.
1-if you get the decision while on implied status, ur good to go and this is best case scenario.
2-it gets returned (application due to payment, missing docs, something else missing) your spouse automatically will be out of status, i think at that point you will have to apply as outland, and most likely your wife needs to return immediately(i think once you get your deny you need to leave immediately.
i mean its a shoot in the dark but still apply for visitor , it might not even be processed while you got your decision, but i think you should ask for an update on your file through their online system, sometimes they request docs and never work on the app again, i have seen people requesting electronic submission and then suddenly someone makes a decision(most likely they forgot your file and then when u inqiure about it , they realized it has been lying on their desk for so long)
i know i dont have definite info but, i would immediately ask for a info request through the system, apply for visitor in the mean time.(worse case u ll lose 100 bucks) , and hope they give you an decision (a good one)