I think it’s clearly a TD with the different angles posted, as Murdock caught the ball. Dual possession, if you’re being generous to the defender, still means TD.
But, I could see them calling incomplete live based on only Murdoch having possession and getting that possession while out of bounds. And given they don’t really take these reviews seriously, they potentially wouldn’t have overturned it.
Murdock made a GREAT catch imo, one that the refs didn’t think was likely and therefore were prejudice in their review. Unfortunately had Murdock not made an effort, it’s definitely incomplete.
I do think it's interesting that the only difference between this play and other highlight reel plays we've seen where receivers have caught and pinned the ball against a defender and have been credited with receptions is the fact that the ball was pinned against the defender's chest in this situation instead of his back or side or helmet.