Cat cut: Previous commentor is accurate in saying that side catenary makes sealing the sides against wind difficult. In general, however, a cat cut reduces interior volume. You might consider the rectangular Ray Way type of tarp which uses side pull-outs. Not only do side pulls give a taut set-up and shed wind well, but they increase the interior volume significantly. That can be important when condensation coats the inside of the tarp.
Seam sealing: Silicone sealants do not thin properly with mineral spirits, contrary to all recommendations in their favor. They merely form a slurry that is weak and patchy when cured. The most reliable sealant is a silicone resin that is formulated to be thin to begin with. McNetts Silnet is widely available. Cheaper and more durable is Permatex Floable Silicone Windshield Sealant, available at any automobile parts store – twice the amount for half the price of McNett's. It is the right consistency for seam sealing, penetrates thread holes, saturates threads, gets into seams, and stays where you put it. While you are in the auto parts store, buy a pack of plastic body squeegees – spreaders used on Bondo. They are really good for scraping up any vagrant sealant. Otherwise, you will find, the sealant – any sealant – will add an unexpected amount of weight.
The key thing in getting good seals is to clean the seams thoroughly with alcohol. Really scrub it with a soft cloth, then rinse it again and let it dry completely before applying the sealant. All fabrics have manufacturing residue and often DWR. Any contaminate will interfere with good adhesion.