Define "hot conductor".
I am assuming most would call it a conductor that has potential to ground. Until you establish a ground reference in any voltage system, you don't have significant potential to ground - you can have capacitively coupled voltages but they typically don't have much power behind them for under 600 volt systems.
A few posts back you asked "How would you ground a 240 volt single phase separately derived system?"
You can ground either leg, but not both at same time. There is no "hot" until the opposing leg is grounded.