I concur this looks like the correct part. Another option that should work would be the TCA6416A which uses split voltage (3v3 on I2C IO and 5V on GPIO as example). Note that TCA6416A is a 16 IO pin expander compared to the TCA6408 which offers 8 IO pins, slightly larger package so not a drop in replacement.
I haven’t seen any issues either but can order a few in my next batch order. Is it a direct swap?