This is a very good draw for Madrid. Pot 2 was particularly tough and strong and Los Blancos avoided the stronger teams and will face Red Bull Leipzig instead. Leipzig are a quality team but definitely weaker than the likes of Chelsea, Liverpool and even Juventus and Tottenham, so Madrid have reasons to be happy about avoiding those stronger teams.
This will be a condensed group stage in the European competition, as it will be over by the beginning of November, so Real Madrid will have to make sure they stay healthy and fresh as it will be important to have as many players available during that time span. Still, this group will give Ancelotti the opportunity to make some rotations and take the first half of the 2022-2023 La Liga season a bit more seriously.