I honestly can't answer your question except to note that phal blooms normally open up in the direction of the light so you may risk the blooms opening up facing downward.

Beings most of the blooms are already open, I'd say it will be fine. The leaves are what 'takes up' the light anyhow.

Not sure from the picture the stage of these spikes, but they look quite advanced, i.e., mostly in bloom. My bet would be that you would be able to place this plant in a room that has some natural light (not necessarily ideal grow light for a phal) and most importantly, somewhere you can enjoy it on display. Chances are reasonably good that the spikes will continue to develop, barring truly adverse conditions like being next to a heating vent or a cold, dry draft or being in complete darkness. There is residual energy in the plant that will help keep it going. Give it a try, take it easy on watering, don’t stress it any other way.

Yes, the spikes are mostly in bloom with just a few small unopened buds at the tips. Space is super limited and there's literally only one south facing window that provides adequate light and it was full with other plants. I felt paranoid last night before about the buds potentially blooming downward, though, so I moved the phal there after sacrificing other plants to make room for it at the bay window haha.

Once all buds fully bloom, would it still be ok to have it back under the grow light?

I think you should consider this plant as a learning experience for you. Give it the conditions that you can afford with out sacrificing other plants on its behalf. Issues like bud positioning are really secondary or even tertiary in the overall scheme of things for a new plant. Allow it to finish doing what it’s already doing. Then think about where it’s new home should be. These things have a way of working themselves out if you can just take a step back to passively observe. Orchid growing is a slow business. You’ll spend a lot of time wondering whether you should wait and see, or intervene. In this case all seems well. Slow your pacing down to match your plant and you’ll know what to do as time goes on.

If the spikes are finished blooming, you could put the plant anywhere in your house to display it. Don't worry about light at this point.

The light is needed when the plant is making new leaves. The flowers are finished and the plant doesn't need light to grow at this point.

Where do you live? Zone 9 should be a warm climate.

Jane