Dependent Visa status for Kid if both Husband and Wife have H1B

I wanted to know if a Kid can be in Dependent status(H4) under both if Husband and Wife have H1B.
My Kid is H4 dependent with my Wife’s H1B, if I apply H4 status with form I-539 for my kid under my H1B, will the dependent status of my kid under my wife’s H1B will be still be valid