Yes, it's concerning. The 49ers' early training camp setback (July 29) revealed right knee swelling related to his PCL injury from 2025 — not a separate issue, which is a durability red flag. The team has no timeline for his return and has expressed concern (from the Ricky Pearsall page).
Pearsall has already missed 39% of his career games due to various injuries (knee, hamstring, even a pre-draft gunshot wound). As Sal Vetri noted, "we haven't had a hamstring injury... in over three years" but the knee issues keep piling up. The Fantasy Headliners pointed out that even after returning from the gunshot wound, he had "nagging injuries" in 2024 and 2025.
Fantasy takeaway: If this PCL recurrence lingers into the preseason or regular season, his upside collapses — the 49ers have Mike Evans, Christian Kirk, and a deep WR room behind him. He's a high-risk, high-reward middle-round flier right now, but you'll want to monitor for a timeline before committing draft capital.