Here is what CapFriendly says:
View attachment 653501
Recently, several posters here said that even if the pick is top 12, Lou can naturally "choose" to allow Vancouver to have it as opposed to them automatically getting the 2024 pick.
But I don't think so.
I think it's really the case that if it's pick 1-12, it remains with the Islanders one way or another. Vancouver then automatically gets the 24 first rounder, one way or another. It appears to already be stipulated.
That would then mean that Lou can then move that '23 first in a trade, perhaps to drop back as you mention. He could deal AGAIN with Vancouver, if he so chooses, but he can't defer the 23 pick as opposed to the 2024 pick. If the lottery comes and we have any pick in the top 12, it's ours. Moving it in any way requires a separate deal.
I've looked around and at the moment, not many teams have two 1st rounders this summer. That could change over the next 14 days of course. I've also thought that if you're picking, say, 10-12, it'd behoove this franchise to perhaps get into business with a team that might be picking, say, 17th and 26th. It's a deep draft and we haven't been drafting high in a good, long while.
But who knows. The last time we had a top 12 pick, we got Dobson out of it (Wahlstrom too), so maybe Lou 'n co. decide to stick with it.
SIDENOTE:
So, in other words, let's say the team moves back and gets picks 19 and 25. They could then certainly trade i.e. pick 19 to Vancouver to get our 2024 first rounder back. But they can't just automatically defer it to alleviate the Horvat trade. Vancouver would have to right to see our '24 pick as their property and handle accordingly.