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Daily you have to report to the Release management team at the time slot they mentioned. If you are reporting daily then there is no risk to your job. But if you failed to report then apply leave to avoid any escalations. If you are continuously not reporting to RMG and not applying leave then there is a chance that they will send a remainder mails that you are absconded and they will terminate you or informally asks you to leave the organization
Bro Release management team responsibility is limited only to your release to ur RMG if you continue with internal requirements or else initiation of NP if you have decided to move somewhere else..RMG are those whose responsibility to move you into the next allocation based on your requirements..Just need to be active by attending the calls and reporting them daily due to a 5 day policy..If you're compliant in both of those needed for the same..There is nothing much to be worried about but I would suggest getting into that project so that you could learn even more new things helpful for your career and also hikes(though getting a good hike depends on the project that you will be allocated with)..