Maybe.
But I think their obsession to win the PL would put aside a CL blow within a second and they would "concentrate on the league".
Given they have a poor bench but a good 1st team,
I think they only have a chance to win the league if they are knocked out vs Bayern and from then on
only will have 1 match per week. That would be doable, if they don't lose their minds and bottle it under pressure.
If they progress in CL they would have to rotate for PL matches in a title race, which could cause some problems.