Yeah, this is what I view as the major potential downside. My thought is, between Meizhen being her friend, and us serving on her council, I think we're already too closely associated with her to avoid that unless we full out turn against her which isn't happening since she's Meizhen's friend now.
Oh, I think it's almost certain that, unless Ling Qi goes for the Imperial Bureaucracy or threads the needle in the sect and embraces that power structure, she's going to have a noble giving her orders (I don't see "loose cultivator" as working out in a centralized power setting). And of the various options that seem to be viable, Cai Renxiang is probably an almost-perfect liege for her to have (she loses a point or two for potential inflexibility and immaturity, and a few more for a frighteningly authoritarian mother who'd be in ultimate control). And unless there's an Imperial Postman-type position for messengers and delivery-cultivators and suchlike, I don't see anything in the Bureaucracy suiting her. Thus I currently see her ideal ending point in five years as being Cai Renxiang's vassal.
My main concern is
when this relationship should be formalized - now, when she enters the Inner Sect (or shortly after), when she starts her military career or when her service ends. I feel the net direct mechanical benefit of doing so now would probably be fairly minimal - the benefit is starting the "years of loyal service" early, being there before anyone but Gan Guangli and Xuan Shi and greater relationship with Renxiang and her current personal vassals (ie, Gan Guangli... Xuan Shi might count here as well). She's almost certainly need to be spending some actions pre-tournament in aiding Cai's plans (and doing so would be a matter of 'must' rather than 'well, this could be fun and/or profitable'), and it would affect her relationships with other disciples in probably a mostly negative way (in the sense of "allies become a bit more wary/distant" rather than increased hostility). And it chooses her path before she really has more than basic information about other options.
Choosing after the tournament decreases her 'value' to Renxiang - she's demurred once already, and Renxiang now has an inner sect full of new potential vassals to choose from. However, it
would then be at a point where Ling Qi might be able to find out just how far she can go in the Argent Sect with "just" her personal prowess and what such a career path (ie, towards Elder-hood) would look like. It would also mean her Cai-related "obligations" are more requests than commands and she'll have more control over her activities pre-tournament.
Choosing at later points follows these trends - less ability to have a close special relationship, more freedom to choose and more information to base said decisions on. Really, Renxiang was clever to put this offer right
now - before Ling Qi has grasped just where she might go as a cultivator and not giving her enough time to really find out.
So far Ling Qi doesn't actually even have an idea of what Cai Renxiang would be asking her to do, what kinds of social decisions she'd be expected to defer to her liege* and so on. To be honest, until she (and we) get that information - through social actions with Cai Renxiang and other nobles - I myself can't in good conscience vote for her accepting the offer.
* For example - In the longer term, if she finds someone she wants to marry, does Renxiang need to approve? In the short term, does she need to okay any side job she does for another disciple? Is she expected to share any gains from her adventures with Renxiang? If she wishes to continue learning at the Argent Sect after her military service, but Renxiang has now moved on to managing a household, must she follow?
Can she take the hypthetical "Imperial postwoman" position or another that appeals, or are such things closed off to her?