Realistically, yes, but Visitor believed (and probably believes) she could do both. And if it were simply a matter of having the energy to do so, I think Visitor could have done both roles.
Yeah, I meant logistically you can't have one actor spread across two 22-episode seasons, being produced at the same time, usually with overlapping schedules. Kira (most likely) would have to be drastically cut back in appearances and storylines to accomodate Visitor's starring role across the backlot.
Bajor joining the Federation in S2 would have been bizarrely fast for my money, and essentially closed one of the major plot arcs of the series ("is Bajor ready/willing to join the Federation?"). Especially if you had the The Circle arc at the beginning of the season it would have been even worse, because that arc did such a great job of establishing how much Bajor was still struggling to find itself post-Occupation.
Yeah, on second thought, it could maybe be that she's commissioned as a prelude to membership, but then it could still fall through after she disappears.
Or perhaps they could just shuck her off into the Maquis, and then have her take command after the death of Starfleet Captain Cavit in Episode 1.