Nothing will happen to Smollett. The Chicago PD will let him off the hook, but the entertainment community may not want to hire a liar like him down the road. That’s why he hired the PR firm. He’s more worried about saving his acting career than anything else!
He’s a gay man. They need constant attention. His story was fading. His 15 minutes was over. He has to keep the story fresh and in the cycle. And of course the press will accommodate him because it fits their meme.