Per Shams Charania of The Athletic and Stadium, Knox "has yet to gain traction" during his time with the Knicks, and the 20-year-old's "future could very well be up in the air" heading into the 2020-21 season.
Changes made in other areas of the organization could factor into Knox's future.
Steve Mills, who was team president when Knox was drafted in 2018, left his position with the Knicks in February. Head coach David Fizdale, who was hired in May 2018, was fired last December after a 4-18 start.
Scott Perry retained his position as general manager, but he's working under new president Leon Rose.
The Knicks are also searching for a new head coach, with SNY's Ian Begley reporting earlier this month nine candidates were set to receive introductory interviews with the team.
Knox hasn't performed well in his two NBA seasons. He showed promise as a rookie with 12.8 points and 4.5 rebounds per game with a 34.3 three-point percentage, but those numbers dropped to 6.4 points, 2.8 rebounds and a 32.7 three-point percentage in 2019-20.
As the Knicks look toward the future, Knox's early returns don't indicate he will be a major contributor for a potential playoff team.