Both young men were drafted during the Kyle Dubas era, Koster is 2019 and Miettinen in 2020, and they both had varying success at the university level.
The Maple Leafs do have 5 contract spots remaining, with just over $1 million in cap space available, so they did have room to sign Koster and Miettinen. Leafs GM Brad Treliving has made many major changes since taking over from Dubas, and perhaps he was dissatisfied with their performances after being drafted.
In any case, Koster and Miettinen are now free agents, and can sign an NHL or AHL with any franchise. It is a tough loss for the Leafs prospect pool, but a necessary risk to potentially improve the NHL roster for the upcoming season.