Seems like a bit of a rushed move.
The term and AAV are not horrible, but he hasn't played all that much.
If he has a bad year, then what?
Obviously goalies are a nightmare to predict, but the risk of this one is relatively low. Woll's risk is almost entirely injury-related, so no one is too concerned that a healthy Woll is worth less than 3.5AAV. Assuming injury this money goes on LTIR.
Barring a significant underperformance combined with health, this will either be an OK-to-Great contract (healthy Joe), or on LTIR at which point it doesn't matter.
For AAV reference:
Samsonov 3.55AAV (4.3% cap 23'-24 season)
Woll 3.5 - 4AAV (3.8% - 4.3% 25'-26 season)
So basically we're paying Joe an equivalent to Sammy (at worst, 4M), or likely a bit less by %cap as I doubt it's 4M on the nose.