If he's cut, sure, but I'd also be more than happy to give up a 7 for him because I doubt you'll be saving too much even after he's cut. I think most or all of the guaranteed money accelerates for Carolina to this year's cap in a trade which would mean you're more or less left with just his base salaries and can cut him with no repercussions.
I don't care what he looked like last year, Carolina was a dumpster fire and he's still relatively young with light mileage. He isn't as good as his stats would indicate in 2022 but I'm sure he could come in and give you 800 yards at around a 4.4 YPC without breaking a sweat.
I'd bet if he's cut he's a vet minimum guy or close to it. Most teams are pretty set at RB and his performance last year didn't inspire a lot of suitors to begin with.
I wouldn't want to bet a draft pick (even a 7th) and cap space on him turning it around with us. Yes we're probably off the hook from his salary if he's so bad we cut him, but we're also less likely to cut him if we spend a draft pick to acquire him (and let's face it, the team won't spend $4 million on a RB right now regardless).
By the way I've been saying 4 million this year for him, but looking at his contract tells us a couple things. One, Carolina might stick with him because his dead cap is $10 million if he's cut/traded and his cap hit for them this year is about 7.7 million so they lose about 2.3 in cap space if he's cut/traded.
The second thing is he had a $2 million roster bonus that was paid in March and I'm not sure they'd have paid that if they didn't plan on keeping him. The draft may have changed things but at the same time it would show a pretty big lack of planning on their part