That's an overestimate so something is wrong with your calculations (a human and a block won't be significantly different here).
Either way, it's still screwed due to the pit constraining it. It will splatter vertically. You know this because you live in a world where physics applies. The ceiling would be covered in GC, but not the area around it. Maybe the 5' squares exactly next to it would get some. But if you have the lip you described it's going to be even more vertical than that.
On top of that you still have a slow deceleration into goo.
Goo which is probably ON FIRE.
Fire which kills Yellow Mold instantly (no damage, no hit, just fire kills it).
Even if it isn't on fire, the spore-explosion is constrained because the block is 10' down and surrounded by goo and possibly has goo on top of it even.
Literally the best-case scenario for this pit is someone jumps in without the slightest check, finds the invisible GC, and for some reason the PCs try to set it on fire with him in it (those bastards!), at which point the block falls, possibly killing him, and possibly exposing him to spores in the fraction of second before the Yellow Mold dies in a fire. I've explained upthread how to make a trap based on the same basic principles but which would actually work.