Yes, but you fail to mention that we already have Oscar Bobb on the right who pauses the play and protects the ball. And he's a better dribbler than Mcatee.
So Savio coming in would give us Grealish, Doku, Savio and Bobb for the wide positions. Phil has been used wide this season, as have Alvarez and Bernardo (who seems likely to leave).
Mcatee is more of a 10 anyway. But then there's the small matter of KDB, Phil and Alvarez.
I rate James very highly but unless Pep moves people on or prioritises him he won't be staying.