Cody is on the Physically Unable to Perform list because he is recovering from offseason hip surgery.
"He's progressing well," Harbaugh said. "He's done a really good job. Whether he's ready to play yet or not, we'll have to decide and determine. I don't want to say at this time. We really don't know."
The Ravens have a couple of options with Cody. They could activate him any time up until Saturday, which could push someone like linebacker Albert McClellan or safety Brynden Trawick off the 53-man roster. The Ravens are in need of another defensive lineman, and Cody can serve as the primary backup to starter Brandon Williams.
The more likely scenario is putting Cody on the Reserve PUP list when the final cut is made Saturday. He wouldn't count against the 53-man roster, but he would be prevented from playing and practicing during the first six weeks of the season.
The Ravens re-signed Cody to a one-year, $730,000 contract during free agency. He was their second-round draft pick in 2010.