Fitzpatrick is now due to earn $10.6 million in 2022 before becoming eligible for free agency.
Teams have until Monday to either trigger or decline their club options for players who were selected in the first round of the 2018 NFL draft.
Extending Fitzpatrick for another season was a no-brainer for Pittsburgh after he was an All-Pro for the second straight year. He finished 2020 with 74 tackles, 11 pass breakups, four interceptions—one of which went for a touchdown—and one forced fumble.
Unlike Fitzpatrick, the Steelers haven't made a final decision about Terrell Edmunds, who hasn't yet produced the same level of success as his fellow safety. Edmunds' 2022 salary ($6.8 million) would be lower, but perhaps Pittsburgh believes that still doesn't represent good value for the money at the moment.
The move wouldn't be unprecedented, with the Steelers declining the fifth-year options for Jarvis Jones and Artie Burns.
With Fitzpatrick, the only drama is whether he and the team hammer out a long-term extension before the 2023 offseason.
Assuming the Seahawks don't use the franchise tag on Adams, his next deal would give the Steelers an idea of the price to keep Fitzpatrick around.