Citty match against PSG will determine if they can survive the group stage. If they fail to win PSG, they are gone. It's only the transfer window that can bring back hope to City because their current players have nothing to offer again for the club. EPL is the only league that City can be hopeful of and that depends on the team's strength after getting new players in January.
At least when playing against PSG, Man City getting a draw is already a very good result. And after that in the 8th match Man City will get an opponent who is very easy to get full points. So when playing against PSG, Guardiola must really think more deeply to overcome this problem.
At least being able to qualify for the play-off round, Man City still has hope. Because I am sure that in the transfer market later Guardiola will replace players who are no longer productive and will bring in more reliable players.
If this fails, even in the EPL, Man City will not have any chance.