Will the tip shrink, be more elevated once the inflammation is gone?or this is final shape of the nose/tip? (photo)

Swelling after a rhinoplasty may take a year to resolve. If excessive scar tissue is forming sometimes a steroid injection will help, (usually not in the tip). Be patient and follow the advice of your surgeon.  They are in the best position to advise you on treatment options.

Thanks for sharing your question. I can appreciate your concern.
4 months after your rhinoplasty a significant amount of swelling is gone. Scar tissue has formed and remodeling and contraction is next in your healing process. I personally think that the projection of your nose is adequate and flows very well with your new dorsum. There is a subtle supra-tip break. There is always an option for fine tuning to achieve your desired look. Finally, make sure that your doctor is aware of your process. She/He should be able to guide you best in your care.
Wishing you the best in your journey
IMPORTANT DISCLAIMER: It is difficult to say what is exactly happening with your case without a physical examination, testing or having done your surgery. It is imperative that you have a thorough examination by a board-certified surgeon. Only then, you may weight better the options to fix your current concerns.

hello Nicole,Thank you for your question and photographs. Personal examination and face to face consultation is important  to advice you properly.Swelling after rhinoplasty takes long time to go and tip swelling  improves over a year.. Please see your surgeon time to time  and waitGet well soon.Dr Milan Doshi ,Mumbai ,India .