It is still possible for that to happen, but for clubs in Serie A, we know that the benchmark will probably only fall to Inter for now because even though there are other clubs such as Napoli or Juventus, their chances are always smaller than Inter's because sometimes Napoli always focuses on one competition only, which they think is possible, just like last season where they focused more on Serie A.
However, the Champions League is often unpredictable, so all possibilities remain open. The probabilities may differ slightly, as La Liga and the EPL are typically the frontrunners for the Champions League. Nevertheless, there are still some clubs in Ligue 1 (PSG) or the Bundesliga (Bayern) that consistently remain close behind in terms of the strongest probabilities.
Serie A clubs are probably not favorites for the final or the championship this season because the top three leading clubs which are Napoli, Juventus and inter have very slight chances for that with inter leading in the chances of playing the final which will be a very hard thing to achieve for them, inter’s position in the champions league is not stable this season because of the much competition in this season’s champions league, and for Juventus they might possibly perform well to pass the qualifying stage and maybe the knockout stage but the round of 16 will be tough for them and Napoli focusing on one competition will make them have small chances to excel in the champions league.
The favorite clubs that normally reach the round of 16 will have very much tough games this seasons as their respective squads are more stronger than last season and that will make this season’s Champions League very unpredictable.