It seems clear that NCAA rules do not override State or Federal law. It seems equally clear that the NCAA's power is finite, which is why we have NIL in the first place. That said, it also seems clear that the NCAA's power is not zero; they do have certain powers to determine what things make a school eligible for NCAA competition.
Taken together, if there is a conflict between the NCAA rules and state law, in seems likely that there will be a court case testing whether the NCAA rules are validly within their power, and also if the state laws are constitutional. If the rules are validly within the NCAA's power, then schools will have to follow them or be ineligible for NCAA competition. If the laws are constitutional, the schools will have to follow state law, even if it makes them ineligible for NCAA competition (which will probably lead to a quick law change).
In the end, while it will be interesting, I don't expect any major drama. I just expect a few court cases, and then, depending on the outcome of those cases, NCAA rules and state laws to come back into agreement.
“We have two ears and one mouth so that we can listen twice as much as we speak.” ― Epictetus