Ugh, I mean, yeah this season for VAN is cursed, but they are still likely to make the playoffs, especially after getting Hughes back. For EP40, since they do still have the window of post-season pre-July 1st to make a deal happen, there is no reason to deal him unless it's an amazing deal. I think they (and certainly I) would much prefer doing everything they can to support him for the rest of the season, and only
if there is no sign of improvement, use the time of the draft, when major roster decisions are being made across the league anyway, to work out a sensible risk/reward type of trade (BUF would make sense).
The one option I could see resulting in a pre-TDL trade is, considering how much CAR seemingly wants him (he was not performing well at all when they supposedly had a deal in place for a better return than Rantanen), if they go after him again to make up for Rantanen supposedly not being willing to extend there, they can structure a deal with VAN around Rantanen, then VAN can flip Rantanen either as a rental, or to a team he IS willing to extend with (if there is one):
To CAR: EP40
To VAN: Rantanen (no extension or retention)+
Then, for example:
With extension (obviously this only makes sense if CAR isn't interested in the same return, or has reservations with certain teams, like NYR, being the destination):
To NYR for Lafreniere+
To LAK for Byfield+
To MIN for Ohgren, '26 1st+
Without extension:
To WPG for Perfetti/Yager/Lambert + Iafallo +
To DAL for Bourque+
To NJD for Mercer+
Then you work out a deal or two to add a promising young C, if one hasn't already come back in a Rantanen deal. I think the idea of building the team around Hughes and a couple excellent wingers (e.g. Laf with some development), with capable but not star Cs, could work fine.
For an offseason, pre-July 1st deal, it's probably too many moving pieces, but I like this idea for VAN/BUF:
EP40, Hronek <--> Cozens, Byram, Kulich, R. Johnson (Byram would probably end up playing his off-side, but it should work fine with Hughes or MP)
Doubt BUF is eager to deal Kulich, though