But part of the reason the Olympics were postponed was because the restrictions, even if removed by the scheduled date of the event, affected the athletes' ability to prepare and affected nations' preliminary contests used to select who represents their countries. Not really a factor, here.
However, as another participant here mentioned, making the decision in May is impossible without a clairvoyant or a time machine. Even an O-320-powered Ouija board won't tell you what the actual restrictions are going to be in Wisconsin in late July. An early cancellation would hurt, but a late cancellation would hurt far worse.
Ron Wanttaja