There are no signings that make a serious title challenge next season an expectation IMO. A hope is our limit still. Even if we handpicked a whole new squad, we would need a long bed in period, coaching time to make a team, not a group of new individuals.
The situation where I can see us challenge for the title is:
Transfer wise I think our squad needs a GK that suits the system, a top CF (elite player), a press resistant midfielder who can move with the ball, and then depth for Casemiro. We also need luck in terms of fixture congestion and injuries. So if we get out of FA Cup and League Cup early, have luck with injuries and get a run of form in the league with the signings above, I can see us push City close to the end and the squad overturn surpass the time needed for extra coaching that we need. Unfortunately, it's not a realistic transfer window, especially given as we are just like 3 weeks away from the transfer window opening and we have no idea who our owners will be, when they will change, and when and how that will impact our transfer business. Can we even do any transfers if they enter the buy/sale phase? When can we spend money? How much money do we have to spend?
Arsenal had 3 years of Arteta, excellent recruitment for a few years, dropped every competition early, and will still finish 10 points behind City.