in a 1 to 10 pm project which is not at all suiting me due to my young kids. manager not releasing. What to do

If i stop doing work, will there be a chance they put me in PIP

Resign and see if you can convince them.
Also note the new policy came into affect and it clearly mentions associate must be flexible to project conditions.

Resign

Agree, if we keep doing good work, they won't release us.

Just stop doing work. This is the right time as band and appraisal are very far.