I was told what is posted on the DVC website about the rule of four ==>
LINK
Q.
What is the Rule of Four?
A.
The Rule of Four guideline is that you cannot book and travel on the Disney Collection (excluding hotels at
Disneyland Resort in California and Tokyo Disney Resort) and Concierge Collection vacations within the last 4 months of your Use Year. However, you can travel in the last 4 months of your Use Year as long as you've booked your stay more than 4 months before the end of your Use Year.
Now that I'm inside my last 4 months of my UY, my understanding is that the only place I can use my Disney Collection reservation points is at the DLR in CA. I literally rebooked my DLR reservation for the last 3 days of my UY to give me the best shot at using (or renting) the points.