Last summer, the Championship outfit paid £1m to sign the forward from Heracles, but he has played just 196 minutes of football in all competitions.
It is expected that Wolves would have to take a financial hit should they wish to offload the 25-year-old in the summer, but Lambert has suggested that he will be allowed to leave for pastures new.
The Scot told the Express & Star: "He's just not part of it. I've got so many players here. Paul has maybe found it hard himself. I think it's maybe thrown him as well, how hard it is. I've just got to go with ones I think can do it, week in week out.
"Maybe he'll come to me and say it's not worked, which is fine, no issues. It's an area where we'll try and strengthen. He's trained with us a bit and done games with the under-23s and things like that.
"You can't train 30-odd guys, the squad's too big, you have to cut it and unfortunately guys have to miss out at times."
Gladon has not made a first-team appearance for Wolves since September 27.