The running back has been dealing with a thigh injury, which has been holding him back over the past several weeks.
Adding in a shoulder injury suffered in Week 9, McCaffrey hasn't played in more than a month. He has only appeared in three games this season, with an ankle injury also forcing him to the injured reserve in September.
With just two weeks remaining and the 4-10 Panthers already eliminated from playoff contention, it wouldn't be surprising to see the team shut McCaffrey down for the rest of the season.
The 24-year-old signed a four-year, $64 million extension before the start of the season to make him the highest-paid running back in NFL history that could cause the team to stay cautious and prepare for 2021.
McCaffrey is one of the top playmakers in the league when healthy, leading the NFL in yards from scrimmage (2,392) and touchdowns (19) last season and being voted first-team All-Pro.
He has remained productive when on the field in 2020, scoring six touchdowns with 374 total yards in just three games.
Panthers fans and fantasy football managers were likely hoping for some of that type of production in Week 16, but it appears as though Mike Davis will lead the backfield once again.