Howdy @rhys_fletcher and welcome!
I would not do that. To further mention, I am not sure I would make that trade at all even with the 2.04. Unless you have played SF, you have no idea how valuable Mahomes at 1.02 will be. If I were you, I would hold that pick and PRAY the 1.01 goes CMC. A young, dominant QB on a powerhouse team is pure gold in SF and will pay off much more over time than CMC. Other running backs will come along, and probably QB, but Mahomes is here for potentially longer than your league holds together.
One caveat on this: is this a slow draft where you can trade picks or is it the 2 minute timer? IF you can trade picks AND Mahomes goes 1.01, I could move the 1.02 more readily but still ask for a much better package. At that point I would ask for something like their 1.09 & 2.04 & 8.04 for your 1.02 & 7.02.
However, if you cannot trade picks while you are on the clock they would have to come stronger than that for the 1.02, and I would likely not sell it. I am all about trading picks and such, but start up SF is a whole different animal. Even the 1.04 I would consider, but no way at the 1.02. That is pristine.
IF you still want to sell it, and it is your team and these are only my thoughts, I would say your 1.02 & 7.02 for their 1.09 & 2.04 & 3.09 (or 4.02). That starts getting more fair to me.
In general, the other positions in FF are getting wide and shallow. That is, more talent coming in to the WR / RB landscape with not huge differences. QB gets fewer bodies per season and to climb to Mahomes heights is very uncommon. That is the value, particularly in SF. All these other bodies you draft in the 2nd / 3rd / etc have relatively easy replaceability. The 1st probably holds the most repeatable value, but even that peters out before the back of the first. Most first rounders are just the best ATM, but there are always new best players coming up.
Sorry to go on such a rant, but IMHO you are doing a huge disservice to your team by giving up the 1.02 at all, and especially without getting a king’s ransom. As always, these are just my thoughts and not mandates. I hope something in here helps or gives you something to think about!