The different parties may have to compromise. The SEC and ND want a plan that keeps at least 4 at large teams. The Big Alliance and B12 want all P5 conferences to get an automatic bid. The G5 wants the top 6 conference champions to get in.
The minimum to achieve all that is 10 total teams. 6 conference champions + 4 at large teams.
They could set it up so that the top 4 conference champs get the top 4 seeds, a first round bye and get to host the 2nd round games at home. Conference champs 5-6 get a first round bye and then play the 2nd round on the road..
The first round would be the 4 at larges with seeds 7-8 hosting seeds 9-10 at home.
After the first round, seeds 5-8 get re-seeded for the 2nd round.
There are definitely compromises that will have to be made. Personally I don't want the top G5 or I'd at least like a minimum ranking requirement to avoid having to take a really weak G5 champion in a year when none of the G5 Champs are all that good but the G5 are going to WAIL if they aren't included so I think you have to throw them a bone.
The P5, particularly the P12, ACC, and what is left of the B12 are going to want auto-bids. That is less of an issue for the B1G and pretty much a non-issue for the SEC.
I would just hate to compromise so much that we end up with four at-large because, to me, that just waters down the regular season way too much. You'd have WAY too many games like tOSU/M this year where with four at-large teams both would already be locked in regardless.
I also don't think that second round games at home are probably feasible. I wrote it as having first round games at home with the expectation that the first round games would be a week (or maybe two weeks) after the CG's so this year that would be either December 11 or December 18, then second round games at bowl sites close to NYD, then a CG in January. Maybe, I don't know.