Noah is the last artifact drifting into memory of the Melo years. His money is no longer a factor in anything the Knicks do going forward.
I did had a look at the OKC picks they are owed and many, many of them are heavily protected and compromised by complex conditions. Given that they are rebuilding, its unlikely they will trade (in a CP3 swap) near picks that are worthwhile. The two best picks that the Knicks could successfully phish for would be distant Houston and Miami picks owed to OKC that are clean of conditions - OKC won't miss them and the Knicks can't execute them in any timeframe that OKC's FO might look bad for having traded them.
And, personally, I like the idea that the picks would be out in the future to put closure to the current rebuild-through-the-draft mindset.
I think this is the most likely CP3 trade sceanario. Hopefully, hopefully, the Knicks transfer enough ballast to maintain some cap flexibility (there are some very nice upgrade FAs that we can and should sign). I have a gut feeling that CP3 is an inside job that has nothing to do with sensible management - he's connected, Rose is a confidant, OKC is a pathetic, small market franchise, and so on. I wouldn't do a CP3 trade but fans never win these nod and wink, money-laundering deals.
BTW, PJax started this rebuilding process a while back right under Melo's nose. The current staff inherits an emerging rebuild that includes a unicorn (Ntilikina), an emerging star (Dotson), some sophomore draft assets that are already above average NBA rotation players (Barret and MR), and a cafeteria style assembly of role players who they can sort out as they please. This isn't old Rainman's lottery team anymore.
Last year the FA market was slim pickings. This year is richer and the team is more well-defined given Thibs's MO. I think we are a playoff team this year without knowing who we draft or who we sign, trade, discover. Its a covid-asterisk season so who knows but being hopeful isn't an absurd notion.