I don't believe there is any such thing as an "Acceptable Date". Once you decide to take the money in the form of a scholarship, you are now the property of that program. If, as a coach, you are trying to keep your job based on results from the Conference or the National Tournament, and you are forced to pull a red-shirt, then you do it.
It's a business at that level no matter what! As soon as money and jobs come into play... all bets are off.
That being said, unless it could change an outcome, I would be hard pressed to pull the red-shirt of a kid with less than a month left to compete.