The wording is "the six highest ranked conference champions". Before the demise of the PAC12, everyone assumed this would be the P5 champions plus the highest ranked G5 champion, but it never specified that the P5 champions were guaranteed a spot. Only once in the last decade had two G5 champions ranked higher than a P5 champion; both Cincinnati and Coastal Carolina were ranked higher than the PAC12 champion in 2020.
Here's an article from a month ago about changing the format from 6+6 to 5+7:
https://sports.yahoo.com/sources-cfp-leaders-moving-closer-to-adjusting-12-team-playoff-format-230208506.html#:~:text=The 5+7 format would,presidents — to make the change.
A change to a 5+7 model maintains four spots for what is now the Power Four conference champions — though they are not guaranteed — and one bid for the highest-ranked Group of Five champion. Automatic qualifying spots are not designated for a specific conference but are earned based on rankings. It would be highly unusual for a power league’s champion to be left out of a 12-team field using a 5+7 format.
In addition, there will be language added that a conference must consist of at least 8 teams to qualify for one of the automatic conference champion spots, so the PAC2 champion wouldn't qualify.
If this is adopted I see the playoff normally consisting of 1 Big12, 1 ACC, 1 G5, 5 SEC, and 4 B1G teams. About once every 3-4 years, Notre Dame or a second Big 12 or ACC team will get in.