He's most likely looking at around $11M/yr.. So $44M/4Y in this market, with the diminishing amount of cap space, with the 4th year as a player option. That would probably be a good scenario for both, and I can't see any team offering him $12-15M+ a year this offseason.
Also, it would behoove the Cavs to work out an extension now rather than having Hood test the market. His agent should realize how the cap situation looks and it might make sense for them to just lock in on a decent deal now rather than testing restricted free agency only to come up short.
4 years 44 Million seems solid but my only worry is the nets throwing out some kind of stupid offer like they did with Allen Crabbe and Tyler Johnson especially if he shows well rest of the way.