Fantasy Upside
After an offseason of rumors about Tee Higgins moving on from the Bengals in one form or another, he is back for at least one last season to catch passes from Joe Burrow. Higgins has a WR22 (2021) and a WR17 (2022) finish on his resume, popping up for 20+ fantasy points on six occasions over that two-year span. With a healthy quarterback under center, Higgins can return to form as a deep-ball threat in an offense that runs through the passing game as its engine.
Fantasy Downside
Even when Burrow was on the field last season, Higgins looked like a shell of himself. He had his own run-ins with injury luck (ribs, hamstring) and registered the second-lowest on-target catch rate of any of the 80 wide receivers who earned at least 50 targets. He had issues with downfield targets as well, finishing 60th in contested catch rate (34.8%) in that same group of qualifiers. If he can't pull the nose up after a difficult season, he will be far closer to a WR4 than a WR2 in fantasy.
2024 Bottom Line
It would be easy to completely throw out Tee Higgins' 2023 season, and your confidence in drafting him in 2024 is likely going to rely on your willingness to do that. If you missed out on Ja'Marr Chase but believe in the Bengals offense this season, that's one such situation where I'd be willing to ignore the '23 outcome(s) and take a stab on Higgins with his lowered ADP. His upside is not as high as it would be if he moved to a new team and out of the shadow of Chase, but he can still return to form and deliver big weeks for fantasy teams willing to take the risk.