Is Vodalian Illusionist legal in Standard, Modern, and Commander?

Vodalian Illusionist is legal in: Legacy, Vintage, Commander.

Vodalian Illusionist

Q: What type of card is Vodalian Illusionist?

Vodalian Illusionist is a Creature — Merfolk Wizard. Its oracle text reads: "{U}{U}, {T}: Target creature phases out. (While it's phased out, it's treated as though it doesn't exist. It phases in before its controller untaps during their next untap step.)"

Creature — Merfolk Wizard

, : Target creature phases out. (While it's phased out, it's treated as though it doesn't exist. It phases in before its controller untaps during their next untap step.)