What would happen if I were to upload an game on the Play Store at API level 31, then update it to API level 33 much later than november?

For this new deadline about API levels, what would happen if you were to release your app that is at API 31 before the deadline, but then update the app to API 33 much later than august/november? Would the app suddenly become visible to all users using that API level? Google didn't specify this in their update policy notes.

What would also happen to the people that don't have the API level and wants to download it? They won't be able to download it would they? Wouldn't this also impact the number of downloads I have as some people that want to play my game would have an older API?

I'm doing Internal Testing on my app right now, and using my phone to test. My phone, OPPO A54s, has an API level of 30, so I'm testing the game on an API level of 30. Android 13 is supposedly coming out for OPPO in the first half of 2023, so I still have some time to wait till I can actually play my own game. I thought about using an emulator (Bluestacks) and running it on a phone that already has Android 13. Is this a practical solution during this Testing phase?

Your app will be visible to all devices which have an API level that is at least as high as the minSdk of your app.

Afaik, newer devices which have their API level higher than the targetSdk will show a dialog on startup that the app was designed for an older android version. Besides that, your app will be available for newer devices even though you haven't updated it to the latest SDK version, yet.