The Ravens expected that their 5 qualifying departures and 3 qualifying additions would give them 2 comp picks. However, since Urban (who is a Ravens departure) only lasted 6 weeks with the Titans instead of the 10 required to qualify, that then left the Ravens with 4 departures, 3 additions, and just the 1 comp pick. By releasing Bethel, they’re now at 4 departures, 2 additions, and again the 2 comp picks.
Because of the high contract value of their departures, those two picks are projected by Nick Korte at OverTheCap to be a 3rd and 4th. The 4th rounder would have been lost if they had kept Bethel. He’s probably still a Raven right now if it had only been a 6th or 7th at stake instead of the 4th.