From playing around with Capfriendly's armchair GM tool, I wonder how likely it is that the Penguins just buyout Bjugstad this off-season or pay someone else to buy him out. Bjugstad's buyout is very tame ($600k next year and $1.75 million in 21-22), and even the Penguins buying him out likely allows them to keep both goalies without any problem. You'd have roughly $3.5 million in cap space with this lineup (assuming $1.5m for Simon, $3m for McCann, $800k for Lafferty, $5m for Murray and $2m for Jarry):
Guentzel-Crosby-Simon
Zucker-Malkin-Rust
Poulin-McCann-Hornqvist
ZAR-Blueger-Tanev
XXXXX-Lafferty
Dumoulin-Letang
Pettersson-Marino
Johnson-Ruhwedel
XXXXX
Murray-Jarry
Bjugstad's buyout isn't ideal because of the $1.75 million cap hit in the second year, but it's not like super bad. And who knows, maybe you can retain $1 million on him for next year and trade him somewhat easily.
I'd also throw out that if the Penguins can move Bjugstad this off-season, I'm more inclined to trade Simon and re-sign Sheary, too. You can probably get Sheary for only about $1-$1.5 million more than what Simon costs, and I'd definitely make that trade-off. It's also worth pointing out that Simon's shoulder is shot and he may miss the beginning of next season, which may keep his extension price down a little bit and make the money difference between him and Sheary a little larger.