The US were comprehensively beaten 16½-11½ by Europe in Rome last September and will be looking to avenge that defeat in New York in September 2025.
However, the PGA of America is in no rush to appoint Zach Johnson’s successor, despite Europe already having Luke Donald in place as captain.
“We have picked captains later than this, we’ve picked captains earlier than this,” said Waugh.
“Donald was named a year out a year ago and they had a pretty good performance, for instance. We think there’s plenty of time, and putting an artificial date on it is not something we need to do.”
Speaking at the PGA of America’s annual news conference before this week’s US PGA Championship at Valhalla, Waugh added: “Tiger’s been pretty clear.
“He doesn’t do anything that he’s not fully committed to, and we totally respect that. He’s got a lot on his plate right now. He’s very active on the [PGA] Tour side of things.
“We have continued the conversations. He’s playing in a major and we want to respect that, and we’ll re-engage next week or so.”
Woods had cast doubt on whether he would be able to take on the role.
“I’m dedicating so much time to what we are doing with the PGA Tour, I don’t want to [take] the role of captaincy if I can’t do it,” he said.
“We’re still talking. Nothing has been confirmed. We’re working on what that might look like and also whether or not I have the time to do it.”
Woods made eight appearances as a player at the biennial event, between 1997 and 2018. He was on the winning side just once, in 1999. He won 13 of his 37 matches, halving three and losing 21.
The former world number one was on the winning side as a vice-captain at Hazeltine in 2016 and was again picked as a vice-captain for the 2018 event in Paris but ended up playing after receiving a wildcard pick.
He missed out on being a vice-captain at the 2021 Ryder Cup at Whistling Straits through injury and was also missing in Rome, although he sent messages of support.