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Use a draft pick to get your next possible starter and thus no extra cap space used or sign a backup for 1-2 mil and still save 5 mil
And spend it on what? Who do they have that needs to be extended this season?

Again, I don't see the urgency. Is setting aside a few million and putting it towards the 2021 cap worth just outright cutting the best backup QB in the league?

Is Brissett totally overpaid as a backup? Hell yeah. Is it even remotely an issue for the Colts? Not in the least.

edit:

The Colts already paid his 2020 roster bonus of $7m on 3/22/2020. They've already chosen to keep him.

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Don't sleep on Colts, strong D and good O line. They got Eason to develop.

They're our biggest competition for the south this year.

Houston will still be dangerous, but I think they've taken a step back. When they have to resign Watson soon, they're screwed though.

Jacksonville is going to have a nasty defense again. They will be tough.
 
The Colts don't have to do a thing. They're not in cap hell like the Jags are, they'll keep Brissett around as a backup. Rivers has always been durable, but he's getting up there in age and that could change in a hurry.
 
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