Nope. It's okay to submit a contest round entry early, so long as it's correctly labeled (in this case, selecting Week 4 from the dropdown menu).

To get into probably more detail than you want to know, what I do is:

copy the entire range of form replies into an Excel spreadsheet;
delete anything from previous years (because we perennially forget to purge the responses before Prep begins);
delete anything not from the current week's contest (this only affects the spreadsheet and not the original form responses, so for example your Week 4 entry would show back up in my Week 4 collation);
Visually look for repeat usernames and delete all but the latest entry from any single individual;
Delete anything timestamped at 12:01 pm Sunday or later (this isn't usually a problem because I can normally get to it at 12:01);
Fix any obvious mistakes in item: or entry: links (usually the result of someone forgetting to close brackets or putting a space after the colon -- this isn't a huge issue);
The spreadsheet spits out clean {item:xxx} and {entry:xxx} links that I can copy into my notepad; I then briefly check each entry to ensure it's relevant (sometimes people transpose digits, which points to someone else's item or an invalid item and, unfortunately, I can't always figure out what it's supposed to be. Get your digits right or you'll be disqualified. Copy/paste works best. Also if I can't read it because it's set to private or whatever, neither would the judges be able to, so pick a different access level, preferably public, registered user or author, or group-only).
Send the checked list to that week's judges.

Looking at the above, it seems like a lot of work, but it really isn't, else I wouldn't be doing it.