Summary
Despite only being a four-star recruit and scoring less than 7 points per game in limited minutes during his freshman season at Memphis, Minott showed enough promising flashes that he ended up being a one-and-done, and was selected by the Timberwolves with the 45th pick of the 2022 draft. 

At 6'9" with a 7'0" wingspan, Minott has good size for an NBA forward, although he could benefit by putting on more weight as he ages into his 20s. He is quick and explosive, and uses that athleticism to be a good transition player or a finisher off cuts. He had some highlight dunks in college. That athleticism translates more to defense right now than it does to offense, as Minott is disruptive by getting steals and blocks.  

Minott needs to improve his skill to become a legitimate NBA player. He shot 14% from 3 in college, and has hit 32% of his 3s in the G-League thus far on a small sample size. Along with his poor shooting, he's not that comfortable putting the ball on the floor, especially in traffic. He's not a playmaker for others either, and doesn't have a great feel for finding the open man. 

Minott did not get real minutes either of his first two season, playing in only 57 minutes of non-garbage time, according to Cleaning the Glass. He has been productive in the G-League though, scoring over 20 points per game on over 60% true shooting and grabbing nearly 7 rebounds. 

I don't expect Minott to hit free agency in 2024, but if he does it will be because he has fallen out of favor in Minnesota, which wouldn't be a good sign for his free agency hopes. He would still be only 21 years old as a potential free agent in 2024, so if that did happen there's a chance another team would still believe in him.
 
Cap Considerations
Minott's $2 million salary for 2024-2025 is non-guaranteed, and if he is waived he will become an unrestricted free agent and the Timberwolves will have no form of Bird rights on him. If he is waived, teams could claim him off waivers, but would need to fit his salary within cap space or an exception to do so, as his contract doesn't fit within the minimum salary exception as it was a four-year contract.

If Minott becomes a free agent, other teams will have multiple ways to sign him as even teams without cap space could use any of the Non-Taxpayer MLE, Room MLE, Taxpayer MLE, or Bi-Annual Exception to sign him. If Minott is waived and clears waivers, his value will likely have dropped low enough that he would only have offers for the minimum.