The Eagles chief spoke out on the progress of the 25-year-old stopper, who needed surgery on the problem which he suffered during the FA Cup third round defeat at Brighton & Hove Albion on January 8.
Hodgson was discussing the growing injury list which has hampered his bid to keep Palace in the Premier League this season and revealed that Schlupp is looking at over two months out from the date he was injured which should see the Ghana international back by mid-March.
The former England boss said: “We already lost [Christian] Benteke for six weeks, [Wilfried] Zaha six weeks, Mamadou Sakho seven weeks, Schlupp eight to ten weeks.
“Five players out for the rest of the season – I think that’s a very unusual situation to find ourselves in.
“All of them are trauma injuries – none are due to muscle strains or pulls, they’re all cruciate ligaments, medial ligaments and fractures.”
The situation could get worse with reports claiming Zaha is facing another two months out of action after suffering an injury against Newcastle on Sunday.
Uwe Rosler was sacked by Fleetwood following a 3-0 reverse at Doncaster which condemned Town to a seventh straight defeat in all competitions.
Cambridge interim head coach Joe Dunne was pleased with how his side adapted to beat Grimsby 3-1.
Southend manager Chris Powell led the applause for Jason Demetriou after the right-back scored twice in the 3-1 win against Portsmouth at Roots Hall.
Morecambe boss Jim Bentley was the happier manager after Gregg Wylde's 90th-minute strike earned his side a point in their 1-1 draw with Forest Green.
Manager Gareth Ainsworth described Wycombe's 2-0 win at Cheltenham as a thoroughly professional performance.
Skipper Richard Wood scored the winner just before half time as in-form Rotherham pulled off a 1-0 victory at League One leaders Shrewsbury.