So...do you think it's okay for us to have a physical relationship given the status of our relationship and my self goals? Pros? Cons?
You're joking, right? Try being okay on your own in ALL aspects. You will become dependent on "him" (him being your sexual partner who ever that may be) for that (that being sex) as well as everything else that you're taking a break from. How naive of you to think that you could maintain a sexual relationship while trying to become non-depressed and independent. Have you read about how many mostly women and some men become all screwed up emotionally over NSA sex? People who have no depression and are not reliant on men to make them happy.. You are currently still depressed and you're currently still working on "getting better."
You're not emotionally equipped to keep your emotional self unevolved with a FB or a FWB... don't even think about this any further. Buy yourself a couple of sex toys instead.
Recently I have been getting better and less depressed.
Which means you are still depressed only less so. How have you been working on "getting better?" Are you seeing anyone for your depression?
“The willingness to accept responsibility for one’s own life is the source from which self-respect springs.” ~Joan Didion