As soon as it's off, any woman you may have possibly attracted with a shaved head will respect you less for your deception.
And that right there is why there's absolutely no point in thinking this is a solution for attracting women. It's not only just delaying the inevitable, it's actually even more damaging to your chances than that, any possible foothold you could have gained is regressed further back than a bad starting point, it's a bad starting point made even worse.
Also yes, they will think BALD, something about a bald guy wearing a hat, even if you can't see his hairline, is instantly given away by uncomfortable anxiety. You can tell all of the guys in the pictures above have hair, and actually this is subconsciously seen as like a humble thing for not showing it off.