Well, this is definitely unexpected.
According to Fightful Select, Cody Rhodes is currently a free agent and not officially under contract with AEW. It's said that his deal with the company expired at the end of 2021, and he's been working for them without a deal ever since. Apparently, the length of many contracts could be different to previous reports, though it is somewhat surprising that Rhodes hasn't sign an extension of any sort.
This might explain his recent, sudden absence from television (which saw Sammy Guevara named interim TNT Champion), though he is set to appear on AEW Dynamite this Wednesday.
Recently, Rhodes made it clear that his "future is with AEW," adding "I can’t see myself anywhere else, and I’m very optimistic about what the future holds." The former WWE Superstar has a number of different commitments with TNT and TBS, appearing in his own reality TV series and a game show, so it would be surprising to see him suddenly cut ties with AEW to head elsewhere.
It's a strange situation, anyway, and had we not heard that the odds of anyone from AEW appearing in the Royal Rumble this year are less than none, we'd have wondered about Rhodes showing up!
As always, keep checking back here for updates.