I'm guessing he will not miss The Masters. If you disagree, what's your guess as to when Phil resurfaces in a PGA event playing field? Other than having soiled his britches and stepped in muck up to his knees, I don't believe he has lost any eligibility. Based on what I've read, he has not been suspended and, while he may incur some monetary penalties from the PGA, I think he's free to add his name to any field he chooses.
I don't think his return will be for a non-major event. Had the recent mess not happened, I don't think he'd have played Bay Hill, The Players, and maybe one or two others anyway. Maybe he shows at a Champions Tour event to test the waters?
He'll definitely be the elephant in the locker room and that will lead to some interesting interactions, verbal and non-verbal. How will the fans/galleries react? I'd like to see Phil get through all this and return to PGA Tour golf.