On Saturday, Adrian Wojnarowski of ESPN.com noted Exum and the organization are reviewing "multiple medical opinions" after he separated his left shoulder and suffered ligament damage.
The 22-year-old Australia native was injured during the Jazz's 112-101 preseason win Oct. 6 over the Phoenix Suns at Vivint Smart Home Arena in Salt Lake City. He missed each of the last two exhibition contests because of the ailments.
Exum averaged 6.2 points, 2.0 rebounds and 1.7 assists across 66 appearances for Utah last season. He missed the entire 2015-16 campaign after he suffered a torn ACL playing for the Australian national team.
He told Roy Ward of the Sydney Morning Herald he was planning to use his quickness more during the upcoming season after getting his knee back to full strength.
"I want to show off my speed," Exum said. "That is the biggest thing. Whether it is getting past my man, in transition—I'm trying to use that to my advantage as much as possible. I think it is something I had kind of gone away from a bit, but I need to get it back because it is to my advantage."
Following Exum's setback, teammate Derrick Favors expressed disappointment for him and noted his strong showing in recent weeks.
"I feel bad for him," the Jazz forward told reporters. "He's a guy who has been working hard all summer. He's probably been one of the best guys in training camp."
It's unclear how long Exum, the fifth overall pick in the 2014 NBA draft, will remain sidelined if he opts for the non-surgical recovery.
Assuming his sore hamstring doesn't hold him back, Raul Neto should slot into the backup point guard role behind Ricky Rubio in the meantime. Donovan Mitchell and Alec Burks could also see more action as part of the backcourt rotation.
The Jazz open the 2017-18 regular season at home Wednesday against the Denver Nuggets.