Yes, it's a correct phrase. Grammar note: "Does the phrase correct?" - in this question, "correct" is a verb and the question is not complete. "Is the phrase correct?" - in this question, "correct" is an adjective. This is the question you wanted to ask.

I never seem *to be* able to find the time.

'seem' isn't replacing 'be', but 'be' has been left out. "I never seem able to find the time" - sounds perfectly correct to me (British native speaker)

The phrase is technically correct but yoou are more likely to encounter the version with "to be" in it

whether the verb "seem" replace verb "be" in this sentence.