Hill has been dealing with personal issues for the past three months, playing just one game - as a sub - since round 15.
The dynamic forward didn't appear at Collingwood's main training session on Tuesday and won't face the Crows.
When Collingwood last played a final - the 2023 decider against the Brisbane Lions - Hill produced a matchwinning turn with four goals and a classic speccy.
"We've supported him with his family stuff he's going through," Magpies coach Craig McRae said.
"He missed (Tuesday), but he's training exceptionally well ... potentially set him up for a tilt in the campaign.
"He was never a chance to be available (against Adelaide).
"We'll just get some load into him this week.
"We're rapt to have him back in our program and it's good to see him smiling again."
Forgotten big man Cox is in line to return for just his ninth game this season as McStay looms as a heartbreak story.
After hurting his knee in the 2023 preliminary final, McStay was forced to watch Collingwood's premiership from the sidelines.
The former Lions tall has kicked just three goals in his last seven games, forcing the Magpies into considering a switch.
McRae admitted whether to pick McStay or Cox would be a discussion at match committee ahead of the team being picked on Wednesday.
"We'll weigh up whether we go with Dan, or some other options, like Mason, his name might be there for consideration," he said.
"We're not quite there yet, but we're close."
McStay has played in defence during his 198-game career, but McRae ruled out him as an option to swing back to cover the absence of injured star Jeremy Howe.
Pressure forward Beau McCreery has been declared right to tackle the Crows, despite dealing with some foot soreness.
He was put through his paces at training, but McRae confirmed he would be on the plane to Adelaide.
"He's done everything he needed to do to prove his fitness," McRae said of McCreery.
"We'll back him in and back our medical department in and he'll be available."
Collingwood's return to the Adelaide Oval comes just three weeks after the Magpies lost a thriller against the Crows, despite having a whopping 71 inside-50s to 37.
The power-packed Crows won't have star Izak Rankine, who was handed a four-game suspension for directing a homophobic slur at an unnamed Collingwood player during that game.
With airlines bumping up prices for flights to and from Adelaide, Magpies hierarchy have booked a series of buses to take fans to the 1 v 4 match.
McRae joked he was going to drive one of the buses to Adelaide.
"They travel far and wide, our Magpie army," he said.
"112,000 (members) so hopefully we have a loud representation there on Thursday night."
