The resilient sleeve member defines an axially extending inner passage. The holdout device includes a core mounted in the inner passage of the sleeve member. The core defines a core passage to receive the elongate substrate and has at least first and second sections. The first and second sections are arranged in a supporting position such that the core maintains the sleeve member in a radially expanded condition. The first and second sections are arranged for relative telescoping movement from the supporting position to a releasing position to permit at least a portion of the sleeve member to radially contract from the radially expanded position to a radially recovered position.