The simple—and properly accurate—read on the Miami Heat is that they need to find a superstar to gain entry into the NBA's elite tier. How and when they find one, though, is a much more complicated question.
While they've kept their options open for future free-agency pursuits, that's becoming a decreasingly viable strategy for snagging a star. And even if top-tier talents started hitting the open market again, there's hardly a guarantee they'd buy what the Heat have to sell. The Heat could, of course, try turning to the trade market (especially if Giannis Antetokounmpo ever wanted out of Milwaukee), but they aren't exactly flush with assets and are relying on the players other teams would seek out.