Wits recruited Mncwango from Polokwane City in January, while Macuphu linked up with Chippa from Jomo Cosmos at the beginning of the year.
However, the duo could be on the move again, according to a source close to United.
"Wits have expressed an interest to sign Mxolisi Macuphu," says the informant.
"On the other side Chippa wants to sign Mncwango from Wits.
"There could be a swap deal on the cards."
The Chilli Boys also have their eye on Clever Boys midfielder Daine Klate, while they are expected to part ways with Edward Manqele. The burly striker rejoined the PE-based outfit in February from Free State Stars.
Club chairman Siviwe Mpengesi re-hired Dan 'Dance' Malesela as head coach on the weekend.