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Smoothness of the moduli space of Drinfeld modules

I'm studying the proof of Thm 1.5.1. in Laumon's "Cohomology of Drinfeld Modular Varieties". Notation: $\mathfrak{m}$ is a square zero ideal of $\mathcal{O}$ and $k=\mathcal{O}/\mathfrak{m}$. Laumon shows that the obstruction to the existence of a lift of a Drinfeld module $\phi: A \rightarrow k[\tau]$ to a Drinfeld module $\phi':A \rightarrow \mathcal{O}[\tau]$ lies in the second Hochschild cohomology $HH^2(A,\mathfrak{m}[\tau])$.

I get that this is an obstruction to the existence of a lift of $\phi$ to a ring morphism $\phi':A \rightarrow \mathcal{O}[\tau]$. However, I don't see how the degree condition is controlled by the Hochschild cohomology. I mean just because there exists a lift as a ring morphism $\phi'$, this does not need to be of the same rank as $\phi$.

Laumon does not explain this, and neither do Blum and Stuhler in "Drinfeld Modules and Elliptic Sheaves". Can some clarify this for me? Thanks.