It's the uncertainty of the pick that makes me think it's less likely to get traded. The more distant a pick, the more uncertain it is. The more uncertain an asset is, the more difficult it is to include it in the trade. It's more difficult to pin what you're giving up or what you're getting. If the deal can get done without it, it's more likely. This deal can get done without it, so I don't think it will be included. The difference between this situation and the MIN situation is that a deal could not get done without 2029 because MIN was holding onto McDaniels very tight.
It's not necessarily that the Jazz don't value the pick or that the Knicks think that pick is a deal breaker, it's just that there is a more simple deal that both teams will agree to and it's more likely that it gets done IMO.