Yes. The technical cost of having to backfill what they know needs to be strongly considered against the morale cost of the rest of the team observing that the company has chosen to keep a known harasser on the team for one more day.

If management is concerned about losing someone with a bus factor of one, how concerned should they be about "the whole team walked because they realized the company sucks and protects abusers?" People in this business are tired of technically competent assholes getting a pass.