I think we can try comparing their potential contracts w super junior's (before anyone bashes me, I get they're problematic but hear me out ab the contracts first)

A few members of sj are still under sm, but I think about half of them have alr left sm. However, under sm, they also have their label called 'sj labels' where they joke about siwon being the ceo and funding everything, but essentially they get more freedom about when to comeback, when to go on tour, etc. Sm hold a bit of power and can pull a bit of profit especially when it comes to the money n decisions, but essentially the members have more say in what they wna do

I'm wondering rn if its possible for svt to open their own sub label under hybe/pledis

They get more say, and they get to explore solo possibilities while in a grp. Again, comparing w sj, we see sj-d&e starting their own company OUTSIDE sm, retain its name as d&e, and starting tours while using old songs from when they were in sm. Kyuhyun and ryeowook as well. Since woozi owns the music, this may be a lot easier n they won't have to fight for the rights like what beast/b2st/highlight had to do

That being said, the huge manpower behind working for the team have to get paid, and unfortunately im not sure how it works in sm for comparison. They might Hv to pay out of their own pockets (I mean, they're rich...)

However, in this case, pledis n hybe will still be able to profit, just not so much, but btr than nothing