I am presently in US on H4 visa. I got an admission into Master's course and would like to pursue the same on H4 visa. However, I would like to apply for COS to F1 after two semesters. I would like to know the chances of F1 approval or if there are any risks involved.

Below is my history:
I had a F2 rejection earlier under section 214b.
I had a multiple entry B2 visa, and the VO cancelled it under CWOP after approving my H4 visa.
An employer here sponsored for H1-B visa, but it got denied. My employer has appealed the case and we are awaiting the result. Irrespective of the result, I want to pursue Masters program.

Does my above history affect the COS to F1 and during F1 stamping?

Looking forward for your advise.

Thank You!

For you to get the F-1 student visa stamped in your passport, you need to prove that you are not an intending immigrant (section 214(b).

With your previous denial (unusual) of the F-2 and the fact that a petitioner filed an H-1B for you; the VO may make a determination that you do not have the intent to return to your home country.