The Queued Payouts feature permits you to line payouts when your business account has insufficient banking balance. These lined payouts are processed once adequate funds have been added to your business account. You would not have to create payouts from scratch if you run out of funds.
Queued payouts are processed on a first in first out basis. If a payout cannot be processed due to insufficient balance, Razorpay attempts to process the next payout in the queue.