Will pay-the-players change a P5 conference's expansion preferences that otherwise would not be a focus?
I can see the SEC thinking "if we add Oklahoma in the west, and North Carolina in the east, that will be fantastic!"

Many of the obstacles to expansion possibilities will still hang around. Will the GoRs in their current state vanish? Maybe somewhat, if multiple power conference schools opt-out of the pay-the-players initiative.

While the B12 will soon have a GoR window, the ACC has another decade+ to offer a window for members to leave.
However, a conference has the power to alter or cancel their own GoR. Getting near full agreement would be the challenge.
Frankly, how any of us may see or predict expansion results will encounter surprises. There are controllable variables, and the ones that are not controllable.
Market value, geography, athletic compatibility, and academic reputations, will remain factors in choices. And, do long, withstanding attitudes and certain schools behavioral practices and traditional allegiances, change? I suppose so with millions more on the table. When and how much?
If the SEC ended up adding Oklahoma and Oklahoma State and calling it a day, I wouldn't be shocked. That could be the most realistic and expedient option if the timeframe is two or three years to make a move.
Texas? Waiting around for them to exhaust all their schemes not to be in the SEC, will test somebody's patience.