I believe the answer is no, because dead cap is simply money that you have already given a player (usually through signing bonus) that you have not yet accounted for it. The chances are extremely slim that you are going to get that signing bonus money back, and teams must account for money they have already paid out.
The thing with Perry's contract that looks bad, is that the dead cap is $3.7 million per year over 3 years ($11.1 million total)... and if he's cut/released, they have to pay that entire $11.1 million right away (unless they use the post June label).
So in 2019 we would save $14.4 million MINUS that $11.1 million... for only about $3.3 million saving in 2019.
BUT... BUT... people aren't looking at the rest of the contract... if you do that and get rid of the dead cap.
So in 2020 we would save $10.6 million MINUS $0 for in 2020 and $10.4 million MINUS $0 in 2021.
So yes, the dead cap space looks horrible for 2019... but I still think Perry might get released for cap space in 2020 and 2021. And remember, all muli-year contracts are signed to use future years money. So it really don't matter if it's in 2019, or 2021... saved money is saved money.
The question for Perry is, which is more valuable to us, 3 years of him playing, or $24.34 million we would save releasing him... or in other words, is Perry worth losing $8.1125 million per year?
I think it can argue it both ways...