I'm really on an island with my thoughts on this. Not surprising either!
IF PCA hits in ST, I don't see a scenario where he's not the OD CF. His issue isn't hitting minor league pitching. It was hitting major league pitching. Facing more minor league pitchers is not going to help him hit major league pitching. Unless it's a hole in his swing, or something mechanical, I think AAA would hurt his growth. If it's pitch recognition or learning to catch up to a major league FB, it has to be done against major league pitching.
IF Belli on on the roster, he has 3 spots to play. LF, RF, 1B. He's much better than either of our corner OF'ers defensively. By all accounts, Busch's best position is 1B. He not good at 3B, and even worse at 2B. His natural position is 1B. Cody is pretty neutral at 1B. This said, both the defense and the lineup would be best off if Cody played LF, and Happ DH most of the time. Cody can also move Suzuki and Busch to the DH spot for some leg rest for players. In my eyes, this leaves Morel as the odd man out for a lot of PA's. All of Happ, Suzuki, and Busch are much more toolsy and polished hitters over Morel.
Does Morel have more value coming off the bench, or packaging in a deal for let's say young pitching?
If PCA wets the bed in ST, they run Cody, Tauchman, or Canario out to CF until PCA gets right.
How likely is it that the Cubs are not even in discussions with Cody, and it just hasn't leaked out?