We shall see. If we put some context around it...
Ravens will probably have somewhere in the neighborhood of $50-60M in cap space for next year. That's also misleading, because the Ravens have a number of very expensive players who aren't under contract. Stanley, Ngakoue, Judon are all currently UFAs, as well as guys like Skura, Jimmy Smith. Quite frankly, literally our entire pass rush are free agents next year (Ngakoue, Judon, Ward, McPhee, Bowser). Even Wolfe is a UFA.
The point being...just retaining Ngakoue and Stanley alone, which I think we would all expect we make every effort to do, could cost upwards of $35-40M or more of that cap. So then you could be down around $20M or less to spend at that point.
I don't know how expensive Corey Davis will be. He will likely be one of the better WRs to hit the open market, because very few studs ever do. I think he could certainly command $8-10M a year, or even more, on the open market. So it will just be a question of how much the Ravens are willing to pay for him, and how he fits with their overall spending strategy.