I can share an opinion.
One could argue that the WP remains active until its expiry.
My argument is this is not the case. The reason the OWP would be granted would be the inland spousal sponsorship application. If you terminate the application, that would be a material change to the underlying WP. So, I would believe that would invalidate the permit. Same type of scenario happens when you land -- a material change has occured -- you are not a foreign national anymore, you are a PR -- that invalidates your WP immediately. Visitor visas as well.
The OWP is unique to the inland program. Without the underlying application, I believe that invalidates the permit.
@sylvain1 : do I see off base here?