He won't return to the team for the start of the Vegas Summer League, which will begin Friday.
Per Mark Medina of the Mercury News, Fredette is evaluating overseas options and didn't want to risk injury during the exhibition games.
The guard scored 14 points in just 16 minutes of action in Monday's Summer League opener against the Sacramento Kings, but only had five points in Tuesday's game against the Los Angeles Lakers. He was minus-27 in 16 minutes on the court.
Considering he came off the bench for those games, it was unlikely he would've done enough to earn himself a new NBA contract.
The 30-year-old appeared in six games with the Phoenix Suns last season, averaging 3.7 points per game, in his only NBA action since 2016. This continued a disappointing professional career in the United States since being the No. 10 pick in the 2011 draft, appearing for five organizations and never making much of an impact.
Despite his struggles at this level, he has had an impressive career in China.
Fredette was named MVP of the Chinese Basketball Association in 2017 while averaging 37.5 points per game for the Shanghai Sharks. He averaged 36 points per game in 45 appearances in 2018-19 before trying to make his return to the NBA.
Unfortunately, it appears unlikely he will remain in the United States for the upcoming season.