Would a team with high utility champions work?

That comp could work because you're not lacking damage. and .

That composition is perfect. It just needs to be utilized properly.

It all depends on how well you can execute.

If the enemy team has prolific assassins, divers, bruisers, etc... mao ivern and janna have to peel, shield, heal, etc.. the ashe and lux or you're going to fail your team fight victory conditions. If ashe or lux get caught out then your team is likely not going to win a team fight.

Personally, I think better to choose either janna or ivern, and have a support with damage like Brand or Zyra or Miss Fortune or an assassin/carry jungler like Khazix, Rengar, Evelynn, Graves...etc... Just more easy to accomplish the win conditions with a comp like that in solo q. Maybe in organized play though, that comp you have is more viable since everyone will understand what needs to happen to win the game.