The 49ers waived Sharpe (undisclosed) with an injury settlement Wednesday, Aaron Wilson of ProFootballNetwork.com reports.
San Francisco signed Sharpe to its practice squad Nov. 7 but placed him on the practice squad injured list with an undisclosed issue eight days later. The veteran receiver has yet to see NFL action this season following a 2021 campaign during which he caught 25 passes for 230 yards as a member of the Falcons.