Rose underwent X-rays, which were negative, according to the Knicks. He left the game with 4:19 remaining in the third with New York trailing Charlotte 76-69.
Knicks coach Jeff Hornacek said the injury did not seem to be anything "major."
"He landed on Kemba's (Walker) foot so he twisted it," Hornacek said. "I guess he had an X-ray, it is negative, he will get treatment. We don't know long it will be but it's nothing major. So hopefully (depending on) how long ankles take and his ability to come back, could be next game, could be two to three games, who knows?"
Rose, who had 13 points and four assists in 22 minutes, has started and played in 43 of the Knicks' 48 games this season. He entered Friday averaging 18 points and 4.5 assists per game.
Rose's health was a concern entering his first season with the Knicks. The former MVP played a total of 49 games from the 2011-12 season to the 2013-14 season due to injuries.
He played 51 and 66 games the previous two seasons before joining the Knicks.
The Knicks next play in Atlanta on Sunday before traveling to play in Washington on Tuesday.