Indian cricket officials are pressing ahead with plans to restart the tournament on Sunday, 10 days after it was postponed because of the conflict with Pakistan.
Most Australian players are now expected to return to India and play in the final rounds with beefed-up security, after arriving home on the weekend.
It's understood some players still hold reservations about returning, while also weighing up the financial implications for both this season and future contracts.
Some players are known to be have been rattled that a game involving several Australians went ahead in Dharamshala last week, before it had to be abandoned mid-match amid air-raid warnings.
India Prime Minister Narendra Modi said this week his country had only "paused" military action with Pakistan, and any terror attack would be met with a "fitting response".
There is also a schedule squeeze for Australia's Test players to worry about.
The IPL has moved its final to June 3, just eight days out from the World Test Championship final between Australia and South Africa at Lord's.
Cricket Australia has left any decision up to players, indicating this week it would approve a No-Objection Certificate for anyone to see out the tournament.
South African officials confirmed on Thursday they intended to do the opposite, refusing to extend their NoCs beyond the IPL's original end date of May 25.
"It is an individual decision, obviously, to return or to play or continue," South Africa's director of cricket Enoch Nkwe said.
"But one thing we've made clear, and we are finalising that with IPL and BCCI, is sticking to our original plan when it comes to the WTC preparations, obviously with May 26 being the latest for the Test guys to come back."
A May 25 exit would rule South Africa's Test players out of the dying stages of the IPL regular season, as well as all finals.
South Africa have eight players from the Test Championship final squad playing in the IPL, including Kagiso Rabada, Lungi Ngidi, Aiden Markram and Marco Jansen.
Most of their players remain firmly in finals contention.
Pat Cummins, Mitchell Starc, Travis Head, Josh Inglis and Josh Hazlewood are the five members of Australia's Test squad featuring in the IPL.
Cummins will fly back to India on Friday and play out the season with Sunrisers Hyderabad, with Head expected to join him.
The Sunrisers are out of finals contention, and play their last game on May 26.
Hazlewood is expected to remain in Australia to have a niggle in his shoulder assessed, before potentially rejoining the IPL for the likely-finals-bound Royal Challengers Bangalore if fit.
The seamer will want to ensure he is fit for the Test Championship final, after missing the team's last success against India in 2023.
Starc and Inglis, whose IPL teams both remain in contention, are yet to publicly declare whether they will return.
South Africa's stance comes after they started this Championship cycle by blocking their biggest-name players from featuring in a Test series against New Zealand, instead making them play in their own SA20 competition.
Meanwhile, Australian batter Jake Fraser-McGurk has opted out of the rest of the tournament citing "personal reasons," according to Reuters.
Fifth-placed Delhi Capitals said in a statement they would replace Fraser-McGurk, who has scored 55 runs in six games after being signed for 90 million Indian rupees ($1.06 million), by bringing in Bangladesh seamer Mustafizur Rahman.
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