Sure. But there won't be anything valuable coming back, let alone a draft pick (not even the 20).
They'll consider it if they can, who knows if they can. I would think keeping the pick is still their first choice, or maybe trading down is. But if they're not going to use the pick it can't just be to add more to the George/Embiid core (which would also be hard to do cap-wise).
Morey has a history of being able to do this, even if not very well. He moved Horford, he moved Ben, he moved Harden. There were teams that wanted George last year and his one bad season won't change that even with the obvious risks. Even when he was playing better he was often hurt.