Colts have the cap space to do this, and the Jaguars need to do it, too.
Jaguars trade QB Nick Foles and a pick (maybe a 3rd-4th?) to Indianapolis for a late pick (6th or 7th) - basically a contract dump. Foles has familiarity with Reich and can be a solid starter with Indy, plus can compete with Jacoby for the starting job. I do believe they should target a young QB in the draft in the 2nd-3rd (I really like Jacob Eason).
Jaguars relieve some of their cap problems and can focus on building around Minshew. This allows them some wiggle room and I think they go into the draft taking best offensive playmaker available barring a catastrophic fall for one of the big defensive names. My money is on Jerry Jeudy for the Jags.