The Minnesota Timberwolves have a plethora of options worth exploring with the first overall pick.
The Minnesota Timberwolves, in pursuit of a playoff push, would likely prefer to move the first overall pick in order to bring in talent that can help the team win right away. In the past, there have not been many trades which the team with the first overall selection decided to trade it for another later pick (along with some combination of additional picks/players).
Currently, there are two players that the Timberwolves seem to be considering with the top pick: Anthony Edwards and LaMelo Ball. Should Minnesota not be able to find a trade partner, one of those two will probably be on the team next season.
Trading the first pick for a surefire star is always preferable. Currently, though, there are not many options available on the trade market. It seems as though the Wizards will be keeping Bradley Beal, and the Suns are coming off of a 8-0 bubble run likely taking Devin Booker out of consideration.
Moving back and getting good, quality role players in addition to maintaining a lottery pick is by no means a bad option, especially given the there is no Zion Williamson in this draft class.