The 22-year-old joined Wolves on transfer deadline day in the winter window but only made six appearances, with five coming in the Premier League.
That included just one Premier League start, when he was taken off at half-time against Crystal Palace, as the £10million addition from Serbian side Red Star Belgrade was often left on the bench by head coach Vitor Pereira.
Now, the centre-back is in talks to join Scottish Premiership side Rangers, under new boss Russell Martin.
It is understood that the deal, if completed, will be a straight loan for the 2025/26 season and will not include an option to buy him permanently.