I have no idea if any special strategies regarding tracking deck composition can exploit this side bet, but I'd guess that these rare circumstances where there would be a lot of one suit remaining in the shoe would be so rare as not to matter much.
but very, very tough. I am not a pro but a serious recreational player. There are a few pros on here who can tell you what it's really like but some of the downsides would be travel (and being away from family, if applicable), expenses, pressure (from the casino and knowing you need to support yourself and/or your family, healthcare (unless your spouse has insurance), loneliness, finding and playing a winning game (and then actually winning), and many more too numerous to name. The movie 21 was not realisdtic.
Making 50K to 100K per year is not that difficult if you can bet low black top bets have at least a spare $50,000 in bankroll laying around, have very low living expenses, and are willing to play 800 hours a year and travel. ($100/hr x 800hrs = $80,000).