The board and Ed know they have wasted almost a billion in (mostly) failed signings for Moyes, Van Gaal and Mou in the 2013-2018 era.
This summer they have spent good money on a much needed CB and RB, but they consider the rest of the squad is good enough to secure the 4th place. Which is debatable since City, Pool, Spurs and even Arsenal have better squads. Not sure about current Chelsea. The fight for the 3rd-4th places will be a bitter battle like 2018-2019.
Anyway, no "pressure" for Ole. He will be here by Aug 2020 if he finishes 4th and/or wins the EL.