I would say it depends on what stage they're in and what your role is. If you're not first author and someone is just writing up the manuscript, then you won't have a ton of time commitment even when the project does become active again. If you are first author but are waiting for your statistician to finish your analysis, then your time commitment when the project becomes active will go up significantly and you don't want to overextend yourself.
On my CV, I have a section for 'projects in progress'. I list the project, who the PI is, what my role is, the other investigators, a brief description and the current stage. This may help clarify things for the faculty you're sending your CV to.
