The Portuguese forward sustained an injury last Sunday when Chelsea defender Tosin Adarabioyo landed awkwardly on him after the two went into a challenge.
The 27-year-old was forced to leave the pitch after just 30 minutes in Liverpool's 2-1 victory at Anfield and was replaced by Darwin Nunez.
Jota has made an impressive start to the season under Arne Slot, recording two assists and two goals in seven league matches this term, though he did not travel with the squad for their Champions League fixture against RB Leipzig in midweek.
Jota likely to miss Arsenal showdown
The Reds are set to face Arsenal in a crucial Premier League match at the Emirates Stadium this weekend, and according to Football Insider, Jota is expected to remain sidelined for the trip to North London.
The report adds that Liverpool's medical team is evaluating the 27-year-old's injury to determine whether he has suffered a rib contusion or a rib fracture.
It is understood that should the Portuguese forward have a rib contusion, his absence would last between one and two weeks. However, if it's a rib fracture, he could be out for four to six weeks.
Asked during his pre-match press conference agaisnt Leipzig about Jota's injury, Slot remained fairly tight-lipped, stating: "It is always so difficult with injuries, especially if it just happens, to see where they are after a few days.
"He got a knock, like we all saw, when he was trying to go to goal, brought down - that was not the biggest problem - but the other player fell onto him.
"That hurt him that much that he couldn't continue to play, and he couldn't come with us for now (to Leipzig)."
The injury comes at a crucial moment for Liverpool, as the Merseysiders are scheduled to play three matches in the upcoming week.
Jota absence adds to Liverpool injury woes
While Jota's injury is far from ideal for the Reds ahead of a busy week, he is not the only player whose participation this weekend is in doubt.
In defence, Alisson Becker is ruled out for a few more weeks with a hamstring injury and Conor Bradley is flagged as a major doubt having missed Liverpool's last two games for unexplained reasons.
Further upfield, Harvey Elliot is still working his way back to a full recovery after sustaining a foot fracture with England Under-21s and Federico Chiesa is out owing to a lack of fitness.
Liverpool have the opportunity to extend their lead over Premier League title contenders Arsenal to a solid seven points in Sunday's headline clash at the Emirates.