With the status of the defending champion and the influence of Pep Guardiola, it will make it easier for Man City to recruit their target players. It seems that Pep will rejuvenate his squad by slowly releasing players who are approaching 30 years or more, maybe also the tactical differences that Pep will apply next season will be different from before. So the option of releasing old players and recruiting players according to their tactics is a step that must be taken, City's game will automatically be different and not easy for other teams to guess.
Yangel Herrera, Ilkay Gundogan, Nahuel Bustos, Benjamin Mendy are players who have been officially released in the current trade market, it is possible that Walker, Mahrez and Bernardo Silva will follow them. Whatever happens to their transfer market, many say that Man City is at the top of the list of favorites to win, either the EPL or the Champions League.
Pep Guardiola became a coach who was very influential for the player's interest in joining them. I think seeing the pattern of Pep Guardiola tactics in this transfer window doesn't mean that they are more silent in the sense that they move more smoothly in their approach to signing players. Yes, the players that will be released by Manchester City are the key players that brought Manchester City to a treble winner last season.
If you look at the existing strengths, I think the departure of several key players will not have a big impact on Manchester City strength in the next season. But at least their competing teams will be able to take advantage of this to perform better when dealing with them either in the EPL or the Champions League next season.