Williams made an impressive senior debut in Liverpool's Carabao Cup penalty shoot-out win against Arsenal last month.
Wales manager Ryan Giggs said the 18-year-old was spoken about when he and his staff discussed the squad for the decisive Euro 2020 qualifiers against Azerbaijan and Hungary.
But Giggs felt Williams would benefit more from playing in the U19 Euro 2020 qualifying tournament, which will see Wales play Poland, Russia and Kosovo in Cardiff and Newport over the next week, than joining the senior or U21 squads at this point.
"There's a bit of a clamour for him to move up quickly, but we're going to keep him in the Under-19s," Bodin said.
"He's a very talented player, but he's still young and I'm sure Liverpool are delighted with his progress."
England defender Alexander-Arnold, another Liverpool homegrown product, has become a mainstay for the European champions since making his debut in 2016.
Alexander-Arnold is already regarded among the best right-backs in the world at the tender age of 21, so Williams' progression at Anfield might prove difficult in the long term.
Bodin said: "In terms of a learning curve, to watch him (Alexander-Arnold) can only help Neco.
"Of course there's going to come a stage where you have to step up if you're not getting that game time at Liverpool.
"But I'm sure there'll be lots of clubs clamouring to get him in on loan."