Summary
Bridges took a leap offensively in '20-'21, particularly with his outside shooting. After shooting 34% from three during his first two seasons in the league, he shot 40% from three in '20-'21. Going into the '21-'22 season, the question was if he could sustain that level of outside shooting. After a hot start to the season, Bridges cooled down as the season went on and finishes at 33% from three. His outside shot may be his biggest concern going forward, as defenses will often leave him open, or at least sag off him and dare him to shoot. However, he has taken legitimate strides as a scorer, and just as an offensive player overall. He has the ability to create his own shot off the dribble, and his playmaking for others has improved. He has real moves, and his overall feel for the game continues to develop. Bridges appears to be a legitimate secondary playmaker. 

His athleticism makes him a real threat in transition, and is a nice target for LaMelo Ball on the break. He's athletic enough to finish over defenders, but also strong enough to finish through them if necessary. He also improved his free-throw shooting to 87% in '20-'21, and while that dipped down to 80% in '21-'22, it still makes him even more of a threat to attack the rim because defenses can't rely on fouling him to prevent points.

On defense, Bridges has made real strides. He has the size and athleticism to guard multiple positions, and the Hornets have often given him the assignment of the opponent's best perimeter player. He has even been tasked with guarding elite lead guards like Damian Lillard, and has fared well in those situations. His steal rate has historically been below average, but that's also improved this season

I'm not sure if another player has done more to improve his outlook in free agency than Bridges, and he could be looking at some big offers in free agency in 2022, especially because he could fit with a lot of teams, including the ones that are projected to have significant cap space.
 
Cap Considerations
Bridges will be a restricted free agent with a $16.3 million cap hold and a $7.9 million Qualifying Offer. Since the Hornets will most likely be operating over the cap, his cap hold isn't really relevant. Bridges's QO will almost certainly not come into play, as he will either sign a large contract with the Hornets or get a large offer sheet from another team, so Bridges settling for the QO is near certain not to happen. 

If the Hornets re-sign Bridges, they could benefit from front-loading his contract, as this would give them more flexibility in the future. However, they may be pushing close to the luxury tax depending on what happens with their other free agents, so this might not be tenable.

For other teams, Bridges will be looking for a contract around 4-year, $100+ million or more, and it would likely take something near that in order for Charlotte to not match. In addition, adding a 15% trade bonus, a player option, and some advances on his salary could make it more difficult for Charlotte to match.