How are rank 7-1 lobbies on PS4 NA at around 5-11 PM Eastern time?

I'm currently two pips into rank 7 and I am trying to complete Doctor's Blight outfit (I have one piece, about to get the second today). However, I'm worried that the queue times will get longer as I get closer to rank 1 and I would like to not have to play ten (if I'm lucky and fill up one vial per match) Survivor games or just stare at my new outfit in the lobby until rank reset. Should I just start deranking now or continue playing normally?

Also, when exactly does the event end? I know it ends on November 2nd, but at what time? Will it be 00:00 UTC (8 PM Eastern) like the double BP events?