Ferguson can be ignored in redraft leagues because of Dalton Schultz, but Schultz is only signed for one year, and this offense has historically seen someone produce TE1 numbers. If Schultz leaves after 2022, Ferguson could be next in line. Ferguson is an older prospect and a below-average athlete, but he did earn a 20% target share in his third year at Wisconsin and he led the team in receptions in his final year. That's worth a fourth- or fifth-round pick in rookie-only drafts.
Ferguson projects in many ways like Dalton Schultz. He's an average athlete without an extra gear, but does everything well enough and comes from a major program. Ferguson could see snaps early as an in-line option but more likely sits behind Sean McKeon until 2023. He's a rookie with little redraft value but someone worth keeping an eye on in dynasty leagues, at least until the Cowboys sign Schultz to a multi-year deal.