At possibly five million dollars an episode it'll have to be placed somewhere where as many eyeballs as possible can see it.
Game of Thrones has an even higher budget than that, and they seem to get along fine on HBO. Maybe Showtime doesn't get as many viewers though? I don't think any Star Trek show really would.
Even the Star Wars live action show planned was supposed to have a budget of 2-4 million per episode, but last I heard they were having financial troubles since their target market was general cable.
I'm guessing that Star Trek could get by on 2 mil or even less, but the question is if the studio wants to sink down the quality to match the target audience. That was part of the reason for Enterprise's cancellation, that Paramount didn't want to make anything look budgeted.
But this is all talk for a live action show. An animated show would probably cost less, although I'm not sure I'd prefer it.