Hollands, 23, was admitted to hospital following the Blues' game at the MCG against Collingwood last Thursday night.
Carlton and the AFL have been investigating the circumstances surrounding Hollands' concerning and erratic performance, credited with one ineffective disposal.
Worksafe Victoria will begin asking questions of Carlton and the AFL in coming days about how Hollands took to the field in the state he did.
"WorkSafe is assessing the matter to determine whether any action is required under the Occupational Health and Safety Act," a Worksafe Victoria spokesperson said in a statement to AAP on Tuesday.
The watchdog will seek information from the club and the league in the next week before determining if there is any scope for a formal investigation.
When fronting a hastily organised press conference on Sunday morning, Carlton chief executive Graham Wright said he was yet to hear from Worksafe.
Also on Tuesday, Hollands' father posted an emotional message of support for his son, vowing to "lift him up until he is restored in full".
Ben Hollands, who played eight games for Richmond in 1999, posted a portrait of his son dressed in his Carlton uniform in a public show of support.
"This is my beautiful boy," the Instagram post reads.
"For anyone in the midst of healing … You are loved. You have a unique and defined purpose. You are seen whole.
"I know who my son is - and I will lift him up until he is restored in full.
"For those supporting someone who is struggling: encourage them, affirm them, and love them.
"Go to them, remind them of who they truly are."
Carlton released a statement on Monday night confirming Hollands was in hospital and asked for the privacy of the player and his family to be respected.
Last year, Hollands twice took personal leave from Carlton, and later revealed he had been battling mental ill-health and issues with alcohol.
His latest episode has led to calls from prominent players - including Geelong's Bailey Smith and Western Bulldogs' Rory Lobb - for a league-wide mental-health round.
On Tuesday, Bulldogs coach Luke Beveridge and Sydney's Dean Cox raised concerns over the level and type of scrutiny modern players are put under.
"I've got no doubt that what our players are exposed to and what they have to deal with and manage from a critique point of view is a lot more challenging than it ever has been," Beveridge said.
Cox said pressure on players has "skyrocketed" since his playing days with West Coast.
"The demands that are on players and certainly young people now, the social media has had a big say in that and the ability to be able to scrutinise and talk to people at will," Cox said.
"I think the players do a really good job dealing with that and it's about supporting each other."
Carlton have faced scrutiny over their handling of Hollands, including for allowing him back onto the field during the final quarter against Collingwood, but Beveridge was sympathetic.
"It's just a hugely challenging situation and I feel for them," Beveridge said.
"Everyone feels for Elijah and his family, but I feel for everyone who's involved at the Blues because you talk about trauma and things that are confronting - it's been confronting.
"I think everyone at that football club just needs everyone's support to help them through it."
Hollands, who turns 24 on Saturday, was delisted by the Blues at the end of last season, despite having a year to run on his contract.
He was invited to Carlton training over summer and impressed enough to win back a spot on the list.
Hollands has played all six games this season, averaging 18.4 possessions before his concerning outing against Collingwood.
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