The 32-year-old suffered the knee injury against Burnley on 22 June and travelled to Barcelona for surgery on the injury, which went well.
However, recovery is taking longer than expected and the Argentine has not returned to training yet, with Guardiola not optimistic about seeing him back ont he pitch any time soon.
The Spaniard is hoping that it could just be four more weeks out for his first choice striker, but it could be double that.
‘We knew the injury was difficult,’ said Guardiola.
‘He still hasn’t had one training session with us and Sergio is not a guy who regains his physical condition quickly.
‘He has been out for a long time, so maybe in one or two months he will be ready.’
Riyad Mahrez has also tested positive for coronavirus, but returned to training four days before Laporte, so will be available on Monday night at Molineux.
Bernardo Silva is pushing to be fit after suffering a muscle injury in his leg on international duty with Portugal and he is expected to recover in time.
After not being involved in the first weekend of the Premier League season, Man City have a busy week ahead, playing on Monday, then on Thursday at home to Bournemouth in the EFL Cup and then again against Leicester City next Sunday at the Etihad in the Premier League.