I don't agree with your interpretation. I feel that, if we pass CPC-4, we could also vote on PV-10 because it does not seek to replace the word “minister”, but rather to replace the verb “take into account” with “base”.
If we pass CPC-4, the subject of the verb “take into account” would therefore be “Governor in Council”, but then we would have to be in favour of the verb “base” or retain the verb “take into account”, which is already in the bill. I don't believe that passing CPC-4 cancels out PV-10.