Honestly, there isn't a lot of bloat. Jones and Pereira are the only ones that really need to leave but no one's going to buy them. That's 4m / yr in wages, not a huge deal.
4 GKs: I'm not too worried. Two backups are on low wages. Impossible to get rid of the DDG contract unfortunately, so might as well let him fight it out with Henderson.
Telles: Good enough as backup LB.
Bailly: Fine as 4th CB.
Jones: Bloat.
Matic: Last year of his contract, happy to have him for a year to bring on occasionally, play in cup games etc.
Mata: Being groomed for an ambassador role at the club. If he signs, it'll be on fairly low wages. Again happy to have as a backup.
Lingard: Will be sold probably for a decent fee.
Pereira: Hopefully loaned out again.
James: Fine as a backup. We have Sancho, Rashford, Greenwood and James for two spots on the wing. Maybe bloat if Pellestri / Amad start to perform.
Martial: Kind of crazy to even include him here, but some want him gone. It would free up the wage bill quite a bit to sign another Sancho level talent. I still think he can come good.
Don't think the Caf has issues with any other player here.