Dave live on the f4wonline YT account stated: "“He wanted to go there and the decision was a no”
Dave said that Punk wanted to go, but WWE (meaning Vince, and probably Nick Khan and Triple H) decided against it. Meltzer added that things can always change, but that’s where they stand as of right now.
Honestly, I’d still put a small amount of money on him being a surprise appearance at Survivor Series in November.