The 49ers waived Lee (undisclosed) with an injury designation Friday, NFL reporter Aaron Wilson reports.
Lee opted out of the 2020 season and was cut by the Patriots with a failed physical earlier this offseason, and it appears he's still not back to full health. The 29-year-old hasn't suited up for NFL action since 2019, when he was held to 18 receiving yards across six games with the Jaguars.