Okoye joined the Hornets in a big-money move for a reported £5.1 million from Sparta Rotterdam in 2022 after a successful outing in the Dutch Eredivisie.
The 23-year-old was immediately loaned back to the Dutch outfit as part of the deal for the second half of last season, but it has been frustrating for him since his arrival at Vicarage Road in the summer.
Okoye has made two appearances for the club so far, with both coming in the cup competitions, while he is yet to make his league debut and has spent recent months as third-choice, with Ben Hamer being named on the bench as back-up to Daniel Bachmann.
Bachmann has made some high-profile mistakes and looked uncertain at times this season, but the fact that Okoye has not been handed an opportunity shows how far down the pecking order he is.
Okoye’s fortunes may change under a new manager Valerien Ismael, but a parting of ways may be the best option for both parties this summer.