The Sabres acquired the Panthers' first-round pick in 2022 along with goaltender Devon Levi in exchange for forward Sam Reinhart last July.
Florida won the Presidents' Trophy as the NHL's top team in the regular season with 122 points but was swept in its second-round series against Tampa Bay.
Sabres general manager Kevyn Adams said the team will explore all options with its three picks during his end-of-season press conference earlier this month.
"If you're putting me on the spot, I would expect that we would make our three picks," Adams said. "I believe in the pipeline you have to build. When we talk about long-term sustainable success, you need talent. You need talent that can come up from Rochester, and you don't have to rush them.
"… We would expect that we would use them appropriately. But you've got to be open. You got to be in the conversations, and you have to be ready for any type of thing if the right opportunity presents itself."