The vast majority of programs have scheduled their major non-con games at least through 2025 (if not 2030) or so, so cancelling games before then wouldn't allow Iowa (or Iowa State) to schedule any higher profile programs instead. For example, Michigan has its upcoming series with Washington, UCLA, Texas, and Oklahoma through 2027, but there aren't even that many high-profile options left for 2028 and 2029 (Tennessee, Texas A&M, California, and Virginia being among the best, as bad as that sounds..... Potentially Notre Dame again, though).