This comes down to the individual versus team aspect.
From the individual perspective, yes he should redshirt. He's really good right now and could be an All-American. He's unbelievable on the mat, but he's not elite on his feet right now. If he wrestles the postseason, I'd be surprised if anyone goes on the mat with him if they don't have to. Make it a freestyle match and you've got a chance.
So yes, take the redshirt, try to add some weight, and give him time to improve on his feet.
From the team perspective, don't redshirt him and look for Pitt's best NCAA performance in decades. It's not a given by any means, but if Cole, Nino, and Micky wrestle to their rankings (or better) and Dayton can get on the podium, they're a top-10 team.
Northwestern finished sixth at NCAAs last year with four All-Americans. The Wildcats had 10 national qualifiers - which, as I've mentioned before isn't completely unrealistic for Pitt to do if Pitzer wrestles the postseason. Camacho is hanging around the No. 33 ranking. Cheez is unranked but there's still hope that he can catch fire like he did last year, and Luca just upset the No. 8 guy in the country.
Everyone would have to wrestle really well at the same time for this to happen, but it's not impossible.
Of course, it's also possible that Cole and Micky get burned by their close matches Dayton can't get the takedowns he needs to be dominant and Nino ends up as the only AA.
Tough decision for the Pitt staff.