The under-21s midfielder is likely to continue training with the first team squad in the meantime.
Knight looked set to join Crawley on loan until the move collapsed on deadline night.
He has been seen working with Fabian Hurzeler’s squad and played for the 21s as they won 2-1 at Sutton United on Tuesday.
Under-21s boss Shannon Ruth said: “Something fell through at the very last minute, which is a shame for Joe.
“But what has materialised in the last few weeks is Joe has trained very much with our first team and played with us.
“We will just work really hard for him for January and hopefully we can refine some more of his game.
“We have done this in the past with Jamie Mullins, for example, or Jacob Slater, who didn’t quite get the loan they wanted in a window.
“All we do is re-evaluate and get them ready for the next window.”
Gordon Greer and Sam Baldock, who was at the Sutton game and spoke to Ruth afterwards, look after loan deals.
Ruth said: “Sam and Gordon work extremely hard to get the right opportunities.
“We said to Joe everything happens for a reason.
“He featured in some (first team) matchday squads last year and he will strive to get as close to the first team as he can until January.
“Maybe we try a loan again in January.”