McCargo was signed by the club in early November as a replacement for starter Gerald McCoy, who was placed on IR with a torn biceps. He played in four games and notched eight tackles.
Cutrera notched three tackles in three games this year.
In addition, the Bucs promoted defensive tackle Frank Okam to the active roster. Okam was signed to the practice squad on November 17 and promoted to the active roster one week later. He has played in six games this year for Tampa, posting 15 tackles.
Tampa Bay also released running back Nic Grigsby from the practice squad.