They have a quality win over OU on the road. That’s about as good of a win as anybody has except for Bama’s road win over UGA. OU is currently in CFP Top 12, which in and of itself shows how weak the field is this year, because neither them or Texas is anything special.
And 5 SEC teams getting a bid is possible, but not likely. Either way, OM’s not very likely at all to be the 5th SEC team. Currently they are solidly ahead of OU and Texas, and solidly behind A&M, Bama, and UGA. There’s not much of a path to either of those things changing, unless Texas wins in Athens AND beats A&M at home, AND Ole Miss drops either the UF or MSU game (really unlikely for all that to occur). The greater possibility is that they move up to 3rd, if Bama stumbles against OU and/or Auburn and then loses the SEC Championship game to A&M, and OM doesn’t lose both the MSU and UF games.
And again, there’s just not a lot of possible 10-2 or better teams you can put ahead of 10-2 Ole miss in the 5-8 slots, either. Lets pretend BYU goes 13-0 and Oregon goes 11-1 (both of which are probably 50/50 chance, at best). That’s 2 teams. Let’s say ND wins out and the committee tries to pretend their win over USC is better than OM’s win over Oklahoma. That’s 3. Who’s the 4th? It would potentially be whichever of Bama, A&M, and UGA doesn’t finish in the Top 4. But all 3 of those teams have at least one difficult game left, with the SECCG participants having another. Bama potentially slips lower than a 10-2 OM with any new regular season loss….that FSU game still a huge albatross for them. If UGA stumbles against Texas and Ga Tech, that’s problematic for them.
Bottom line - a lot has to happen a very specific way for 10-2 OM just to get an away CFP game. There is no chance at all they get left out entirely at 10-2. Zero.