The forward didn't practice Thursday, but he has gotten treatment in preparation for the team's Game 3 matchup against the Golden State Warriors Saturday.
Leonard was forced to leave Game 1 on Sunday with the injury and missed Game 2.
After blowing a 23-point lead in the first game, the Spurs lost by 36 points Tuesday and now face an 0-2 deficit.
Leonard also missed the clinching game last round due to his ankle but appeared to be at full strength against the Warriors. That was at least until rolling it twice in Game 1, the last of which came on a much-debated closeout by Zaza Pachulia in which Leonard landed on Pachulia's foot.
"The thing that worries me is that he did it again, the exact same thing," Spurs coach Gregg Popovich said Thursday, per Wright. "So one would logically think maybe it will take longer, but I'm hoping that's not true and we'll have him for Game 3."
Jonathan Simmons would likely continue to get more playing time in Leonard's absence, but San Antonio could be in trouble if their MVP candidate was unable to return.