Currently, having a dead party member prevents you from removing them from the party or resting. So if you have a dead party member, if you can't afford a scroll of revivify you are unable to ever fill that slot again. And you can't rest, which cripples you for the rest of the game.
I'm aware that there is an undead NPC who can revive dead companions at less cost, but if you have not already gotten him to enter your camp, then you cannot wait the required number of days for him to join your camp, preventing his use. I have two dead party members and have to reset the game just to be able to continue playing.
You should be able to remove dead party members from your roster, and you should be able to rest/pass time while having dead party members in your roster.