I started with "Nope" and changed my vote to "It's complicated." In a vacuum, no, those brief lines were mild and surely no worse than anything else he's said before. That alone shouldn't have gotten him kicked off the air. (I actually kind of liked the "Trump stages of grief" line, because he's using humor to point out someone else's callousness, not being callous himself.)
On the other hand, it's a decision of a private company, and they have the right to cancel his show for whatever reason they like if it violated their standards. Free speech is free from government prosecution, not from consequences overall.
On the third hand, if they were looking for an excuse to get rid of him because of low ratings and low profits, surely that in itself is an excuse? If his show is losing money, cancel him for that and let people speculate that there's the ulterior motive. Don't cancel him for an inoffensive joke; cancel him for being economically bad for business.