I agree with others that they cannot and should not pay him top 5 or even top 10-12 CB money. He has not earned it. He's simply not in that category.
What is "top 5 CB money"? In the range of Stephon Gilmore's deal- $65M, $40M guaranteed, average $13M/year. No thanks....
To me you look at Johnson and offer him a deal around top 20 range. Which would be more like Logan Ryan's deal with Tennessee- 3 years, $30M, $12M guaranteed. And that's IF Phillips really wants him back. He may have seen Johnson as a bridge to install his defense but not a ideal fit longer term. That's possible too.