If Charlotte were to pursue Kyrie in free agency, they would have to let a number of their own free agents walk. This would likely include Miles Bridges. In the grand scheme of things, exchanging Bridges and a few supporting characters for a talent like Irving would be a no-brainer, but this is Kyrie we are talking about. He may hint that he wants to join Charlotte, see the Hornets clear the way for him to come, and then simply change his mind.
This would devastate the Hornets as a franchise. For the sheer unknown factor of Kyrie being Kyrie at any given moment, Charlotte should stay far, far away from the seven-time All-Star this offseason. He may opt out of his player option and be a tempting target, but there are too many variables at play for the Hornets to seriously pursue him.