H4 to H1B COS with I-140 approved AFTER 6 years


I think my case is a little strange. But I would like to know if it’s a possibility.

I changed from H1B to H4 (+EAD) as I had only 2 weeks left on H1B max-out (with recapture).
I am currently working on H4-EAD.
The current Employer/ Immigration team said that they would like to apply for I-140 and if and when it gets approved, they would like to apply for H1B (cap-exempt).

Is this a possible route to get back on H1B? Also, does my H1B remain cap-exempt even if I have maxed out. Is there no need to go out of USA for 1 year? [This is where I am a little confused]

You can file H1B extension with approved i140 as cap exempt.