If he isn't cleared and doesn't play for the heat by February, they can medically waive him to get cap relief. However, the doc that examines him is a doc that both the NBPA/Bosh approve of and that the Heat approve of. It'll be hard for them to agree on a doc. If it does happen, and bosh can be waived, the heat don't have Bosh's contract on their cap any longer. However, releasing bosh could be bad for Miami. If bosh joins another team, passes a physical, and plays 25 games for them, then Bosh's contract returns to Miami's books. Miami wants to avoid even the chance of that happening. So I wonder whether he will even get released at all. (I may have gotten some of this stuff wrong, so please correct me if I'm wrong)
Personally I would avoid him. He needs to accept that his career is over. He's in denial right now. I would HATE to see him (God forbid) collapse on our court (on any court, for that matter). It would be a nice little way to harm miami's cap I guess (if he played 25 games for a new team), but the risk isn't worth it tbh.