I see a lot of people comparing it to the Loona situation or Shinee situation and thinking that the same thing will benefit EXO here but I don't think it will as it's a different situation.
Admittedly I don't know much about the Loona situation but from what I have gathered from seeing people talk about it, the company was trying to force the members to release an album to cover up the Chuu scandal (forgive me if this is incorrect). In the Shinee situation, the company was trying to force fans to accept a subpar venue for their first concert/fanmeet since Taem's discharge. Something that even the members did not want.
Both these situations, the company was trying to force the fans to accept something that they and the members did not want so boycotting it was a way of showing the company they aren't going to accept just anything.
With the EXO comeback, the members want it, the fans want it. Xiumin, Baek and Chen have all expressed there desire to remain in EXO even with their lawsuit, they have participated in the MV filming even with the lawsuit. All signs are pointing to the members wanting this comeback to continue so why boycott something they want. Fans cannot really do anything to help the lawsuit other than showing SM that EXO has a huge amount of support on their side, that EXOL support EXO (and don't believe the bs that SM is spouting about this whole situation).
I get people not wanting to support it as they don't want the money to go to SM, that they want to show SM that they support EXO, but in this situation I don't know if a boycott is going to have the same effect as Loona and Shinee.
While a lot of people think the boycott would work, more people seem to think the opposite is true. Making EXO as invaluable to the company as they possibly can. Making this comeback hella successful and showing both SM and the investors that EXO are a huge part of the company and they are going to take a massive hit without them. Supporting the album/comeback could likely give EXO more bargaining power.
But also, it's SM and self-destruction, self-sabotage and stubbornness is their motto so fans and EXO may lose either way.
Of course, if fans want to continue to boycott it's their money, it's their choice and they should not feel pressured either way.