The American four-times World Cup champion has not even trained on snow since December 21 when she blamed her knee for missing a gate in Val d'Isere.
Vonn first tore ligaments in her right knee at the world championships in Schladming in February and she aggravated the injury in training at Copper Mountain, Colorado, in November.
“She’s recovering and preparing and everything is [up] in the air,” Hoedlmoser told the Associated Press.
”Right now it’s a total open book.
“We don’t know. It totally depends on how she recovers, how the knee feels, if she gets the strength back, the stability in the knee.
“We would like to see her get a couple more races in, but the injury she has, she’s always taking some risks doing that.
Vonn won gold in the downhill and bronze in the super-G at the last Olympics in Vancouver.
The Winter Olympics begin in Sochi on February 7.