I think slightly differently, but not trying to suggest my thought process is any more correct than yours:
1) A lot of managers won't want to leave mid season so it might be a case of having to wait for whoever we want anyway
2) I think giving a manger a whole season is a fairer amount of time
3) Kind of continuation of 2), a lot of 'middle' clubs are now stronger, and those ones not in Europe are challenging more. We are likely out of Europe February/March time. Then Frank will have far more full weeks to work with the squad and also see if we can get closer/overtake those middling clubs who are performing better without any European football as we will then be in the same position. A decent couple of months form towards end of the season, a season of no European football and more work with the squad and things could really take shape, who knows
This season is likely a write off anyway, if things get too toxic or genuine relegation concerns come into play then of course it's a different conversation. But I don't see the need to think about pushing the button yet personally....
Two big problems there
- Nobody cares about being fair, managers (like players) get paid a lot of money because it isn't fair, it's about results.
- If the club or Frank believe we can't even get Europa next season, he should go now.
It is still close enough that a good run (with some January reinforcements) could get us 6th/7th.