Summary
Okogie has shown some real defensive potential, as he has the size and quickness to guard 1-4. He also has very good steal and block rates for a wing. However, Okogie has yet to show much of any development offensively, and his minutes have steadily decreased since his rookie season as the Timberwolves have become deeper and more competitive.

Okogie is a low-usage player, doesn't make plays for others, and scores at an inefficient rate from just about everywhere on the floor. Particularly worrisome is his 27% three-point shooting given the "3-and-D" role that teams would hope he could play.

Okogie didn't get a minute of playoff action in 2o22, but if he ever did I would imagine he would become a liability offensively because defenses would simply not guard him. Okogie needs to become enough of a threat offensively that he can stay on the court. Otherwise, he may not have much of a market as a free agent in 2022. 
 
Cap Considerations
Okogie will be a restricted free agent with a $12.3 million cap hold, a $5.9 million Qualifying Offer, and full Bird rights. The Timberwolves may refuse to tender him a QO, making him an unrestricted free agent. With Okogie's QO being possibly above his market value, I think there is a possibility this occurs. If the Timberwolves do give him the QO, Okogie may consider signing it right away.

Other teams will have multiple ways to sign Okogie as even teams without cap space could use the Non-Taxpayer MLE, Taxpayer MLE, or possibly even the Room MLE or Bi-Annual Exception to sign him. However, Okogie being a restricted free agent would lower his interest among teams, as they will worry that the only way to pry him away from Minnesota would be to overpay him.