Scheffler is recovering from surgery on his right hand, stemming from a Christmas Day mishap. He was initially forecasted to miss three to four weeks.
The American said he expects to make a decision within the "next few days to a week whether I'll be playing next week". The deadline to commit to play at Pebble Beach is Friday evening (Saturday AEDT).
"Just want to make sure I'm getting back to normal, progressing the right way in recovery," Scheffler said.
"I'm definitely anxious to get back, excited to get back, but I'm also not going to rush back just to rush back."
Scheffler received a puncture wound from broken glass while preparing Christmas dinner. He said on Monday that he had been making homemade ravioli.
The 28-year-old had surgery to remove glass fragments from the hand.
Scheffler had been hopeful of returning for last week's The American Express at La Qunita, California, but determined the hand wasn't ready, so he withdrew to "give my injury more time to heal".
He noted that not being able to use his right hand affects other things besides golf.
"Sometimes you don't realise how unco-ordinated you are until you have to brush your teeth left-handed," the American joked.
Scheffler won seven PGA Tour events and the Olympic gold medal last season in a banner campaign.
He won the Masters and was named PGA Tour Player of the Year for a third consecutive time.
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