There wasn't a male only rule it was a child of previous Prince/ss rule. The previous law (only recently changed) only allowd for direct inheritance not collatoral. Under the old law Caroline, Stephanie and their progeny would have lost their succession rights the moment Albert had become the Prince. However, the law has been changed.
No Caroline will not become The Hereditary Princess of Monaco, Marquess de Baux. Those titles are conferred not inherited. Although, the Marquis de Baux could be inherited it is always worn by the holder of the Hereditary Prince title. Albert would have to formally invest Caroline as Hereditary Princess.......this I doubt will happen. She will be heiress presumtive as first in line. Presumtive meaning she can be displaced by a birth. Albert is heir apparent in that he cannot be displaced from his position as heir except by his own death.
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