ta1db,
I still do not understand the goal of your project; If you want a Panadapter for the QCX, then the I/Q solution is the most direct and has the least impact on receiver sensitivity.?
I do not have the direct knowledge to answer your specific question.? Theoretically, there is a 3.5db loss anytime you split a signal.? It could work if you are willing to accept that loss and IF Q5 provides enough isolation.?
To go the RF route, I would build an external splitter with a 3db LNA, grounding the SDR? connection and isolation of the QCX+ antenna for transmission.? It could be a learning experience.? You will need to consider the QSK capabilities of the QCX+ and if you want to maintain them.?
The easiest RF solution is to buy the SDR switch.
73
Evan
AC9TU