Lawrie, the defending champion at Parador de Malaga, picked up an upper respiratory infection while competing last week in Miami, while Olazabal has a right foot injury.
Both Lawrie and Olazabal, the European Ryder Cup captain, are expected to be sidelined until next month's Masters tournament at Augusta National. Lawrie is ranked No. 45 and needs to be in the top 50 to be assured of playing at the Masters for the first time since 2004.
Olazabal, as a past champion, has his spot in the field assured.