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No chance that Bennett will take a paycut when he quit on the Bears last season because of his contract.
To me this is just an one-year rental. We take his $5 million cap hit and let him walk next offseason. I'm pretty sure we still have enough cap space to extend Hightower this offseason even with the Bennett addition, unless you are suggesting that the Pats should do more in addition to Bennett then yes, we don't have enough cap space, but remember we still have Cannon and Amendola's contract that could be restructured or even dumped.
I think you are missing a couple of things.
The Bears were not paying him $5m. None of it was guaranteed. If he gets hurt he gets zip. If he gets cut he gets zip. With the Black Friday of free agency over, teams are preparing for the draft and can wait till after the draft to sign players. Teams can also wait to cut players after the draft or in TC which is when the players have sucky leverage.
If Bennett was smart, he'd redo his deal to make it a 1yr 2m+ guaranteed contract. Pats can spread it out and he gets piece of mind. Maybe they sweeten it by getting him to 3 or 4m w/ performance incentives.