With all of the potential rewards and things one could get from Honor - I think that, even for the target audience of your proposed change, the change itself would be detrimental. There really is no reason for players to opt-out of the Honor system, since they'd effectively be losing out on anything in terms of ambient free rewards.
Additionally, it would cause some confusion for other players, as normally, the only way that a post-game Honor screen would show up with less than 4 (or 2) players would be that someone AFK'd/disconnected - and that would almost certainly cause some confusion if the Dishonorable/opted-out player was active throughout the match.
So, beyond clarity and generally unintuitive design, there are two other things I want to point out.
I believe it would be prudent, for the sake of the health of other players' honor...
How would it be "for the health of other player's honor" if it's them straight-up giving up Honor and the ability to climb in Honor Rank? Granted, they could still get ambient honor from Team Honor bonus, but, they're handicapping themselves to an inane degree. It'd be like getting your arm stuck, and opting to shoot yourself in the head instead of enduring sawing off your limb.
At least, that's how I see it, anyway.
...and would prefer to see other rewarded rather than have honor wasted on me.
Honor is never wasted. Even if you think other players honoring you is a waste due to your tendencies to bite back at trolls or agitators, they're not wasted. Those players - for one reason or another - felt you were worth honoring that match. Rather than resigning yourself to some cruel, stagnant fate, why not embrace the honors, and strive to be better? To feel like you deserve those honors?
