Malzahn said Davis, a junior who reportedly had not been seen practicing during this week, went home Saturday.
"Obviously, Carlton is a great player," Malzahn said. "He's done a super job for us. But the good thing is we have depth on the back end. We have experience on the back end."
The 6-foot-1 Miami native is a three-year starter for the Tigers. He was an SEC All-Freshman selection in 2015 and an All-SEC third-team choice a year ago.
ESPN NFL draft analyst Mel Kiper Jr. ranks Davis as the sixth-best draft-eligible cornerback.
Davis has a team-high 11 pass breakups this season.