ESPN's Adam Schefter reported earlier Tuesday that Garrett was scheduled to meet with Cowboys executives at 1 p.m. ET.
"Resolution likely, but not definite," Schefter tweeted. "Expectation continues to be Garrett and Dallas will part ways, but the Cowboys are run as a family, Garrett has been a part of family, and it’s hard to part ways."
Garrett's Cowboys finished 8-8 after going 10-6 and winning the NFC East the year before. He has coached the team since the midway point of the 2010 season.
Garrett has posted a respectable 85-67 record, but the Cowboys have won only two playoff games under his watch. They have not advanced to the NFC Championship Game since 1995.
Dallas has fielded a competitive team during Garrett's entire tenure aside from the 2015 season, when starting quarterback Tony Romo missed all but four games due to injury. That 4-12 team went 3-1 with Romo and 1-11 otherwise.
The Cowboys have finished 8-8 or better in eight of Garrett's nine full seasons.
On the flip side, Garrett's offensive tendencies have come into serious question over the years, with NFL analyst Warren Sharp providing his takes as the years have gone along:
Warren Sharp @SharpFootball
If you intelligently plan ahead that you'll go on 4th down, you can call SMARTER plays on 2nd & 7 and 3rd & 7. Garrett just took 2 desperation end zone shots & settled for the FG. It makes no sense to coach a game this way. The only people happy are Dallas bettors & the Eagles.
In particular, conservative decisions made by himself or members of his staff have been the object of criticism.
One notable example this year included kicking a field goal against the Patriots on 4th-and-7 with his team down 13-6 with six minutes left, as Sharp referenced.
Another is a sequence at the end of Dallas' 28-24 loss to the Minnesota Vikings, when a potential game-winning drive fell short.
Todd Brock of Cowboys Wire explained:
"The Cowboys were positioned to pull off a dramatic comeback after being behind for most of the game, with the ball deep in enemy territory and down by four points with under two minutes to play. That’s when the passing game that had found success all night was inexplicably shelved for consecutive runs by Ezekiel Elliott that lost three yards and wasted almost 50 seconds of precious time. The sequence put the Cowboys in a fourth-down situation where a pass was expected by everyone, including Vikings linebacker Eric Kendricks, who tipped the throw away and ended the Dallas drive 14 yards away from the end zone."
For now, Garrett's status remains in limbo, but David Moore of the Dallas Morning News provided clarity on next steps:
It is still expected the Cowboys will eventually part with Garrett, however.
Slater reported Monday that Garrett told coaches with expiring contracts that they could "look for work elsewhere" and that his status would be "sorted out in the 24-48 hours."