for a 12-team playoff, IMO no, in their eyes 12-0 without going through a gauntlet of a P4 conference schedule or at minimum handily beating your entire G5 slate, is probably a non-starter for the CFP committee. They've made it clear they want their own in, and UConn is not their own. They'd find a way to discredit our wins against the likes of Rice and FAU. And honestly I can't blame them. a 10-2 ACC team that didn't win their conference is likely more deserving than a 12-0 UConn. By virtue of their schedule. In this scenario, though, I think UConn gets a very nice/prestigious bowl invite though.
16 teams changes the game I think - there may be more grace from the P4 conferences to allow an additional cinderella to the party, beyond the most-highly-rated G5 conference champion.