The latter, since the theological principles dictate the exact opposite. Now before this is misunderstood, let me clarify by saying that if we're in a period of sedevacante presently, it's also absurd that one absolutely HAS to recognize to such remain a Catholic (though logical theological consistency is another matter). In any case, the notion that one can't be determined a heretic (if manifest) until subsequent to an authoritative declaration flies in the face history (namely the Nestorius episode among others) and the approved authors.