Frimpong was on loan at Wolves for a spell last campaign, but damaged his cruciate ligaments in February and has only just returned to action for the English Premier League side.
It is now thought that Wenger wants to see just what his player is capable of before seeing if he should be on the way out of the Emirates Stadium for a short-term period.
English Championship club Wolves have been heavily linked with re-signing him, but the Gunners boss does not want to send him out just yet.
Wenger said: I don’t know yet [about letting him go on loan]. He needs to play a few games and he is not ready yet.
“I have heard of their [Wolves] interest but he needs to get back to a competitive edge first before we plan anything for him.”
Should Frimpong become available, then a number of teams are sure to be interested in securing his services and it is now being suggested that Wenger will wait until the January transfer window before making his decision.
The player himself is sure to want to prove himself at the Emirates, after not being handed may first-team opportunities in his career so far.