Submit profile from now and improve IELTS. As cut off dates are crucial also to securing an ITA.
Example,
Your profile maybe created September 11 and you improved your IELTS October 10 to lets say 442. Then the draw happens and the score is 442 a cut off date of September 15. Your profile will be selected but if you waited until
October 10 to create the profile then you would have missed the cut off date. It’s better to submit the profile and keep trying to improve your score.