On 27 June 2018, McCarthy signed a new four-year contract with the club, keeping him on their books until 2020, and making him one of their highest earning players, reflecting his status as first-choice keeper. However he began the 2019–20 Premier League season as second choice behind Angus Gunn, with manager Ralph Hasenhüttl using McCarthy in the EFL Cup games. He made his first Premier League start of the season in November 2019 after Gunn had conceded nine goals to Leicester City.