The 23-year-old has been out of action since sustaining the problem in England's 2-1 UEFA Nations League loss to Greece earlier this month, being sent home before the Three Lions' 3-1 success over Finland a few days later.
Arsenal have had to make do without Saka for their recent clashes with Bournemouth and Shakhtar Donetsk, and his absence was well and truly felt in both games, even if the Gunners did edge out the latter in the Champions League.
Following the 1-0 success over the Ukrainian giants, Mikel Arteta had no good news to share on Saka's condition, claiming that the Hale End graduate was "unlikely" to be fit for the visit of the league leaders this weekend.
However, Arteta said before last year's 1-0 home win over Manchester City that Saka was "in contention" before he missed out entirely, so fans have learned to take his injury updates with a pinch of salt.
Arsenal given conflicting reports over Saka fitness
According to one report from The Mirror, Saka is keeping his fingers crossed that he will be able to take on Arne Slot's side this weekend, having also been hopeful of facing Bournemouth before missing out on selection.
In spite of Arteta's post-match pessimism, both Arsenal and England medical staff were immediately confident that Saka did not suffer a serious problem, and he is eyeing an imminent return to full training.
However, a separate report from Football Insider alleges that Saka is expected to sit out the visit of Liverpool, and those close to him have 'little hope' that he will recover in time for the weekend.
Arteta will no doubt be pressed for an update in Friday's pre-game press conference, but the Spaniard is likely to remain tight-lipped, as he so often does with team news before a tie of colossal proportions.
Gabriel Jesus and Raheem Sterling are alternatives on the right wing to Saka, who has scored three goals and set up seven more in 10 appearances this season, providing more assists than any other player in the Premier League.
Could any Arsenal players return for Liverpool game?
With conflicting claims coming out about Saka's fitness and Arteta loath to give anything away, Arsenal fans may not know for sure whether the 23-year-old will be fit for the weekend until the lineups are announced.
Saka is just one of a handful of concerns for Arteta, who also witnessed Riccardo Calafiori come off with an apparent knee problem in the win over Shakhtar, one which has rendered him doubtful for Sunday.
However, Calafiori's loss could be Jurrien Timber's gain, as the Dutchman is believed to be on the verge of coming back from the muscular injury he suffered against Paris Saint-Germain in the Champions League earlier this month.
Captain Martin Odegaard has no chance of being back from his ankle injury in time for the weekend, though, while Takehiro Tomiyasu and Kieran Tierney are also out of contention alongside the suspended William Saliba.
Arsenal sit four points and two places behind Liverpool in the Premier League table ahead of the Reds' visit to the Emirates, where Arteta's men have won the last two top-flight encounters.