Yes. There are 2 scenarios where this is possible.
1: Cavs use series of deals to get under tax Apron. Then they sign & trade for George. This is less plausible and its arguable whether it makes sense or not. You'd really gut the teams depth but you'd also reset our repeater tax penalty and you gain a ton of cap flexibility and obviously you add another star in George for cheap-ish(I dont think we need trade the Nets pick to OKC in this scenario. BUT the problem with this strategy is that it would gut the roster big-time and we likely would not be able to field a deep enough team to compete for a title next season. This is a move with a big eye on going hard for the title in the 2019-2020 season. Also you need a LOT of things to fall perfectly in your favor... Gourimoko has detailed the "how and why" better than I ever could.
2: This is a scenario that is actually legitimately possible/realistic. Paul George has the ability to opt-in to the final year of his contract. If he opts in, he can be traded to the Cavs since it's not a S&T so the Cavs being a tax team does't matter. Biggest issue with this scenario is that Paul George would be leaving approximately $8-10 million dollars on the table. For 1 year only tho. (Cavs would undoubtedly have a handshake deal in place to give him a 5 year max the folllowing summer...al-a Kevin Love. It's not super crazy because the Cavs have already been very far down the road on a Paul George acquisition before. He's talked to Ty, Dan, Koby and most importantly...LeBron about playing for the Cavs and trying to win a title here. And things obviously went pretty well in those conversations because the Cavs were ready and willing, after these conversations took place, to send Kevin Love to Indiana AND give up a future lottery protected 1st round pick(I think it was 2023? maybe 2022...) in order to acquire George. But in this scenario, George would basically talk to OKC and most likely they would have an agreed upon framework for a deal already in place with the Cavs, before George opts in...and then the trade will happen almost immediately after he opts in. The Thunder have enough leverage to demand either Kevin Love or #8, but not both. If we had the room to sign George we wouldn't have to give up either but we don't so we have to play ball...
I'd love to get George for Love or #8 and then turn around and flip the other one for McCollum. I think that makes us a legit contender again. I think McCollum is dying to play next to a playmaker like LBJ.