Davis was arrested Oct. 27 in New York and faces seven charges - including third-degree assault and endangering the welfare of a child - after an incident involving his girlfriend. He is due in court Dec. 11.
Webster told reporters that because an NBA investigation remains ongoing, the league would make a decision such as putting Davis on administrative leave.
"It may feel unsatisfying, but we need to be respectful of that process," Webster said. "We take this incredibly seriously."
Because the Raptors didn't waive Davis by Sunday, the second year of his contract is guaranteed at $1.5 million.
The Raptors revealed their training camp roster Tuesday and officially announced new multi-year deals for forward Oshae Brissett and center Henry Ellenson.