Paterson, 25, joined Rovers from North Queensland Cowboys ahead of the 2012 season on a two-year deal, and has made 15 appearances.
Rovers chairman Neil Hudgell said: “Cory has asked for a release on compassionate grounds. He wants to go back to Australia to be with his family. He’s had a discussion with our CEO, Mike Smith, and is due to have a discussion with myself this week so we’re expecting to make an early decision on Cory’s situation.
“What will make it an easier decision to make is if we’ve found a recruit that we’re happy with and can come in and replace Cory. We’re very sympathetic towards his position but ultimately we have the club’s interests to look after and we’ll assess the situation on an ongoing basis.
“Family always has to come first and ultimately, whether it be for good reasons or bad reasons, if a players doesn’t want to be here, we’re not going to stand in their way.”
Paterson started his career with Newcastle Knights, making his first grade debut back in 2007.