The Uruguay international has seldom been seen in a Red Devils jersey since arriving from Penarol in 2020, being forced to wait two years before making his competitive first-team debut.
Pellistri spent 18 months on loan with Spanish side Alaves before he was integrated into the Man United first team, failing to score or assist in 35 games during his time in La Liga.
After failing to make the grade under Ole Gunnar Solskjaer, Pellistri belatedly made his breakthrough under Erik ten Hag, playing 10 times for the first team in the 2022-23 campaign.
Pellistri registered an assist on his debut in a 3-0 EFL Cup quarter-final win over Charlton Athletic, before making four substitute appearances in the Premier League.
The 21-year-old is under contract with Man United until 2025 with the option of an additional 12 months, and it has been reported that talks over an extension are progressing well.
However, whether Pellistri will earn regular minutes for the first team next season is another question entirely, and according to VI, the attacker has caught the eye of FC Twente.
As quoted by the publication, technical director Jan Streuer has confirmed that his side are tracking the Man United man, saying: "We know him, but we also know other interesting players."
Man United are not willing to sanction a permanent exit for Pellistri, and any loan exit for the 2023-24 season would be unlikely to include an option or obligation to buy.
However, it is unclear whether Pellistri - who started two games for Uruguay during their short-lived World Cup 2022 campaign - would be willing to go out on loan for a third time.
One former Man United youngster has already swapped Old Trafford for the Eredivisie this summer, with Zidane Iqbal departing on a permanent basis for FC Utrecht.
Tunisian protege Hannibal Mejbri is also being linked with a permanent exit after impressing for Birmingham City on loan last term, and he is believed to be on the radar of Borussia Dortmund alongside Anthony Elanga.
The future of Amad Diallo has also been a hot-button topic in the wake of his impressive exploits for Sunderland, and the Ivorian attacker was briefly linked with a return to Atalanta BC as part of a deal for Danish striker Rasmus Hojlund.
However, Diallo is expected to be given the chance to impress Ten Hag in pre-season before any firm decision is made on his future amid interest from Burnley and Sheffield United.