Hojlund scored only ten goals and provided two assists in 52 games, as United experienced their worst domestic season in decades.
The club is now in the running to sign Benjamin Sesko, a 22-year-old striker also being pursued by Premier League rivals Newcastle.
Former defender Mikael Silvestre believes Hojlund can still compete for a starting role and urges him to take on the challenge.
Silvestre thinks Hojlund and Sesko can coexist, providing different strengths to the team.
"You need competition and quality in the squad," Silvestre said. "I wouldn't rush to send Rasmus Hojlund on loan if Sesko signs. Absolutely not."
