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The phrase 'the current draft' is correct and usable in written English.
It is commonly used when referring to a version of a document that is currently being discussed or edited, and is generally the most recently developed version. For example: "Our team has been working on the current draft of the proposal for the past week."
Dictionary
the current draft
adjective
Existing or occurring at the moment.
Exact(57)
"The current draft protocol text does not do this".
In the current draft there is one named author (Shakespeare).
But the current draft of the proposed rule addresses the securities industry's legitimate qualms.
The current draft sets the stage for the government to have a leadership role.
Unfortunately, the current draft of the CFP does not tackle every aspect of the problem.
In other words, M. Kirwani should be bold in revising and extending the current draft.
But other governments have insisted that the preamble of the current draft treaty goes far enough.
The activists reject the current draft of the law as too weak.
The current draft, completed at Nissan's California studio, has a Porsche flavor.
Similar(2)
Yet, the criteria for identifying additives as relevant for a CBA stated in the current draft guidance [13] may need to be re-considered.
The latest move toward implementation of the new legislation occurred in late October 2013, when the European Parliament approved certain amendments to the current draft of the legislation.
More suggestions(16)
the recent draft
the current tentative
the current preparation
the current elaboration
the actual draft
the current blueprint
the current plan
the current planning
the current initiative
the current projects
the current plans
the current proposals
the current provisional
the existing draft
the current project
the present draft
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com