The odds are of course incredibly low, but if New Orleans facilitated a Cousins sign-and-trade, the team getting Cousins and New Orleans could both send things to Cleveland. DMC’s outgoing salary would count at about $21.6 million, so New Orleans would only have to send out another $6.6 million or so (maybe a bit more to keep under the hard cap — I’m doing his from memory). S&T’s are difficult, as are three-way trades, and double S&T’s even more difficult. But teams find ways to get things done sometimes.
I don’t see LeBron winding up in New Orleans, but it’s less impossible than some of the other locations people seem to wonder about. If you think Miami is a possibility (as Vegas does) then heck yes New Orleans can happen from a cap perspective.