Murray has a few concerning traits that should give any team pause about making a big investment.
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Actually option three is not such a bad idea. Think about the ramifications of it. First you off load what could be a potential problem going into the 2022 season and uncertainty at QB and the unanswered question of Murray being capable of leading this team to playoff success and you pick up a boat load of picks (both 2022 and 2023) to not only fill some holes in the team but to also make the team younger for the long term run. Imagine being able to fill the holes at WR, G, Edge and CB in the first three rounds and still be holding onto draft capital for 2023. You then test drive Mayfield at a cheap price and see what he has to offer.
If Mayfield works out you sign him to a long term contract and and move forward, if he doesn't you are sitting on some picks to move up in the draft (which is supposed to be a much better draft for QBs) and now you still have cap space because you are now on another cheap rookie contract at QB. You will need the cap space to fix the Oline since it's filled with UFAs in 2023. Look at what the Bengals did to fix their Oline this past FA season.
Is it a gamble, of course it is as none of this is guaranteed yet the potential to fix the team long term is there and probably worth the gamble. I for one am tired of seeing holes filled with prove it contracts and older veterans who have seen their better days long pass them by or whose potential for injury are much better than completing a entire season on the field.
The only fly in this ointment (and it's a pretty sizeable fly) is Keim and how much faith do you have in him being able to draft well enough to fill the holes and swing deals.