I saw a good comparison on Reddit that I think applies pretty well, it's like when the Patriots cut Newton after he lost out on the starter's role rather than keep him as a backup.
The Patriots are releasing Cam Newton, and Mac Jones will be the starting quarterback, sources told ESPN.
www.espn.com
Newton had an okay season with the Patriots the year before, but got outplayed by Jones in the 2021 pre-season and was named the starter. However they knew that Newton's personality/media presence wouldn't work as a backup behind a rookie QB, so they just cut him rather than keep him as a backup. Newton flat out said this in an interview a bit later, it was basically “because I am not the starter and I have a large personality/following, as such I would’ve been a distraction in the locker room”.
I think Sanders falls in that exact category as well, which is why no one is biting on him. At this point, I think he either goes undrafted or he's taken by someone with an established culture and starting QB to sit and mature for a few years.