McCarthy, 42, has been without a job since being sacked by Cape Town City in November last year and has since been linked with several clubs.
The South Africa all-time record goalscorer had discussions with Scottish club Hearts and GladAfrica Championship leaders Ajax Cape Town.
However, he admits to BBC Football that he's patiently waiting on the right offer after his first senior managerial role turned sour with the Citizens.
"If it's the right club, the right chairman and owner, someone I can work with then sure, I'll be up for it," McCarthy explains.
"But I'm not just going to take a job for the sake of taking it if it's not the right move for both parties.
"The Ajax Cape Town job was probably mine if I wanted it. I had a few discussions with the club's CEO Ari Efstathiou - we had great conversations.
"The project could have been good but the timing wasn't right for me."