I'd protect 8 skaters. Kucherov, Stamkos, Cirelli, Point, Hedman, Sergachev, Cernak, and Foote . Losing Palat is fine
TJ, Killorn and Palat all are without full NTC's after this year, we can find space in the short term.
The biggest question is how management feels about McD, because if they think his tread is wearing thin he's the only long term contract not part of the "core" whom they won't be able to jettison on a whim if the need arises. If that is how they feel, use assets and dump him now. I think we all know that 6 more years is a tough ask for someone with RD's playstyle, and you're looking at Coburn-esque production from him the last 2 years of that contract.
How overpaid will he be at 6.75 million in 2024 when he's no longer inside the top 4? Is it worth it in the short term to have a shut down #1 defender at 6.75?