I think they are simply saying that conservatorship is untenable. Therefore, something needs to be done to end it. Their (Johnson-Crapo) proposed legislation is a means by which to do that.
Unfortunately, I do not think they are implying a release prior to reform. IMO...
Where did you see anything about releasing FnF from conservatorship? I only saw the word "release" as it relates to a new bill being released in the coming days.