Since you should have already paid the first levy instalment, so why not wait until 1.5-2 months prior to your next instalment to see if there's any policy changed again and the experience of other moms.
Oh no. No matter you renew immediately or before your next levy due, it's just a matter of saving HKD400 each month early or later and forfeiting or making use of what you've paid already, no difference. But if you renew now, you should expect that there's a huge chaos and v v long line up in immigration dept. Hope that later we do it there's more orders at immigration.