Not if you use one as a fullback. You can have 4 TEs, no FB, no KOS...and then you've got an extra spot to play with...maybe keep another OL on the roster or something.
Plus, by keeping both Phillips and Hannah, you can replace insert either one if either Marty B. or Witt. goes down. Hannah can provide a good deep threat similar to Marty imo...and that way we won't have to change the scheme too much if one goes down. And if Phillips is as good a blocker as advertised, he should be alright as a lead blocker the 10 or so times that we use one, plus he probably has as good of hands as any fullback we would keep.