Of course there isn't a TE that would be as impactful as Chase, two completely different positions & Chase ended up being a Top 5 wr. Heck the Bengals will probably go 10+ years to have a 1st round pick be as impactful as Chase, especially if they are picking in the bottom third of the draft.
Just taking the best OT available at 28 doesn't mean that player is any better than a OT they could take in the 2nd round. Top OT's are Northwestern Peter Skoronski, OSU Paris Johnson Jr & Georgia Broderick Jones are projected 1st rounders and will most likely be gone by the time the Bengals pick. The next 7 or so could be rated anywhere from the 4th best to the 11th best: Oklahoma Anton Harrison, OSU Dawand Jones, Syracuse Matthew Bergeron, Ten Darnell Wright, Maryland Jaelyn Duncan, Utah Blake Freeland & ND State Cody Mauch. As for TE's there are 2 who are 1st rd graded, Utah's Dalton Kincaid & ND's Michael Mayer. Oregon St Luke Musgrave & Georgia Darnell Washington are considered early 2nd's.
It's a combination of needs & value. If the Bengals view one of the 2nd tier OT's better than most, then take them at 28. If the Bengals views them as pretty much all the same, then maybe getting Burrow a pass catching TE in the 1st and a OT in the 2nd could be the best option.