"We are not going to see much of Corty this season - it takes a good while to come back from that," McCarthy told the Wolves official website.
"His contract is not even an issue at the minute.
"It's a shame for him and it's a shame for us because I thought he was doing well when he came back and played. He holds the ball up well and he's the type of player you want to have in there.
"He's just got to get himself fit and we'll take it from there.
"Let's hope he can get himself fit around the end of February or March."