In the past, WNBA teams have protected six, and can lose just one. And the expansion team does not get a lottery pick.
Here's a way too early list of potential picks, but it does give an idea of the quality of players likely to be available.
G Shaneice Swain
G Natasha Cloud (who might immediately ask for a trade, but would have value)
G Lou Lopez Sénéchal
G Leigha Brown
G Maya Caldwell
G Kia Nurse
PF Kadi Sissoko
PF Nikolina Milić
P Han Xu
P Cayla George
P Laeticia Amihere
P Ruthy Hebard
Historically, and even more so recently, the draft generally delivers only a couple of WNBA-starter level players. Assuming the expansion team picks fifth, the recent picks were:
2022: Nyara Sabally, Liberty (plays very seldom on a really good team)
2021: Chelsea Dungee, Dallas (not in the league)
2020: Bella Alarie, Dallas (injured, I think, didn't play this year)
2019: Arike Ogunbowale, Dallas (big-time scorer, top-shelf player)
2018: Jordin Canada, Seattle (decent player so far, if she continues to make 35% of her threes, she could start for a contender)
2017: Nia Coffey, San Antonio (avg. 5 points and 3 RBs for her career)
2016: Aerial Powers, Dallas (good scorer for several seasons, fell off in 2023)
So one chance out of six of getting a star at No. 5 seems about right.