It was five years ago, that Bayern won the Champions Legaue with a 1-0 victory over PSG in the finals. Since then, Bayern have been struggling to see how they can lift the trophy again. I believe that if they add more effort and improve their performance to the best of them, they can make it happen next season. It wouldn't be an easy one since there are a lot of club that is focused on winning UCL next season.
The Champions League is a league full of challenges and unexpected surprises, so it will always be difficult for any team to be considered a favorite before the season resumes. Furthermore, every team that wants to win the Champions League must have sufficient strength in their players so that if a key player is injured, they can immediately be replaced by substitutes whose talents are similar to those of the main players. Without such a squad, it will likely always be difficult to win the Champions League, as every team always deploys its players to their full potential when competing in the Champions League.