If you don’t complete level 4, colleges will view you as having completed level 3. It doesn’t matter if something is on your HS transcript…or not…
The final level you complete in high school will be the final level you will have attained.
My kids actually did Spanish 1 and 2 in middle school. 9th grade was Spanish 3, and 10th was honors Spanish 4. For college criteria purposes, they were viewed as having completed level 4 (even though some of the previous levels were middle school).
Neither took a FL in 11th or 12th grade.