If there already was one, I didn't see it. I apologize and please merge.
This is NUTS! Indiana is #8 in the CFP rankings, #8 in the AP, and #10 in the coaches poll. With a win over the Wolverines, I could see them jumping as many as three spots in the rankings because the three teams ahead of them (TN, PSU, TX) each have a loss. Indiana is held back by their SoS and their "brand". A win over Michigan would help immensely with that because while Michigan is merely a .500 team, they are "Michigan" so it would be a brand name win.
Another angle is that there is a decent chance that Indiana is playing for a CFP spot here. After Michigan the Hoosiers visit Ohio State then host Purdue, that is it. They should beat Purdue but I honestly don't see them making the playoffs at 10-2 so, as I see it, they have to either beat Michigan at home or win in Columbus. The easier of the two is this weekend.
History:
The Hoosiers are 10-62 (.139) all-time against the Wolverines. They won a few years ago during Michigan's disastrous Covid year but that is their only win in the last 37 years. The Hoosiers are 1-27 since beating Michigan in 1987. Indiana's only sustained success against the Wolverines came from the mid-50's through the late 60's. From 1954-1967 the Hoosiers were 4-4 against the Wolverines but I'm cherry-picking to come up with Indiana's best and they were still only .500 and the average score of those games was 13-24 in favor of Michigan. This is because Indiana's wins were by 2, 4, 7, and 19 while Michigan's wins were by 14, 22, 23, and 30.