It's definitely a confusing thing. And, officially, there has not ben an NFL transaction for Michael Thomas. So, he has not been terminated. Jameis Winston was terminated on March 13th and designated a post June 1st cut.
https://www.nfl.com/transactions/league/terminations/2024/3
So, what's the hold up, if it really is going to be a termination? MT might have a point here.