Summary
Coming out of college, Hughes showed some potential as a wing scorer that could create his own shot. He wasn't very efficient at Syracuse, but he had to take some tough shots as he was forced to create for himself often. There were some defensive questions, especially because he did not play much man-to-man defense, but Hughes works hard on that end and has decent size for a wing.

Hughes did not get much playing time in '20-'21, only playing 64 minutes, all of which were in garbage time. He also only played 5 G-League games, where he shot under 34% overall and 20.5% from three. Given the Jazz's depth and title aspirations, Hughes continued to play very little in '21-'22, and was eventually traded to Portland, where he got some minutes as the Trailblazers were in tank mode in the latter parts of the season. However, he really struggled, shooting 22% from three and posting an eFG% of 35.6%, which was right near the bottom of the league.

If Hughes can hit enough spot-up jumpers while showing some potential as a creator, he could get some interest in from teams, but time is running out on that. Hughes is on the older side since he spent four years in college, as he is already 24.
 
Cap Considerations
Hughes will be a restricted free agent with a $2 million cap hold and Qualifying Offer, and the Trailblazers will have his Early Bird rights. However, the Trailblazers may not tender him a QO, which would make him an unrestricted free agent. If the Trailblazers re-sign Hughes using the Early-Bird Exception, they could offer him a starting salary of up to 105% of the average salary this past season (roughly $10.9 million), which would be more than enough.

Since Hughes will only have two years of service, he will be subject to the Gilbert Arenas provision. This means that any offer sheet he signs with a team besides Portland can have a starting maximum salary of $10.3 million, but the third and potentially fourth years of that contract can have a large jump (up to the max). His cap hit would then be the average salary over the life of the contract. If the Blazers match, they could choose for his cap hit to either be his actual salary per season or the average over the life of the contract, provided the average fits within the Early Bird Exception or cap space.

I do not expect this to come into play for Hughes, as I think any offers for him would fit within the full Non-Taxpayer MLE over the length of the contract. Most likely though, Hughes will be an unrestricted free agent with only minimum offers, and may not even get fully-guaranteed offers.