Something needs to be done.
The current situation serves nobody's purpose. The selling manager could relist the player sooner (inless of course it's a deliberate act).
The manager bidding is peed off because his money is tied up and he may be missing out on other players.
Other managers are missing out on potential sales in an already dreadful transfer market, because a manager willing to spend has his money locked up. Even worse in the short mid-season transfer window.
But hey, why reduce even a small amount of frustration in the game with a relatively simple solution.
I know the argument could be that this could be used for potential cheating with managers setting a high asking price, such as knowing that nobody will bid and making sure someone they know will get the player and they will receive and over the top payment. There are already safeguards against that though.
If it's just market value being asked, then there's nothing wrong with that as, if it's seen as a problem then it is a problem with the market value.