Its listed as a player option so not sure that is true unless you have a source. I think he is an expiring next year. Now insurance may cover his contract or a percentage of that but it doesn't help the cap.
I believe it does….just like Chris Bosh’s contract did not count against the cap. I guess the issue I’m seeing with it is that it takes a long time to verify that it is a career ending injury, and Lonzo might not actually be under that designation.