The league punished Allen, who was ejected from the Bucks' 94-90 victory over the Bulls on Friday night after receiving the flagrant 2 foul, for what it deemed was "unnecessary and excessive contact," according to a news release. Allen will serve his suspension during the Bucks' next game against the Cleveland Cavaliers on Wednesday.
The Bucks said in a statement that they "disagree" with the suspension.
"We disagree with the suspension. We support Grayson and look forward to him rejoining our team for Friday's game vs. New York," the team said.
Caruso is scheduled to have wrist surgery Monday that will sideline him for six to eight weeks.
"Nothing is changing from what happened the other night to where we are now, and the best thing we can do as a team is just move on," Bulls coach Billy Donovan said during a video conference before Sunday night's 114-95 loss to the Orlando Magic. "That's really the only thing we have control over. I feel bad for Alex that he's going to be out this long more so than anything else."
Friday marked the first time this season Allen, who is in his first season with the Bucks, has been called for a flagrant foul and only the second time in his NBA career. In 2019, he was ejected from a Summer League game for picking up two flagrant fouls within seconds of each other.
The suspension will cost Allen a $27,963 game check, according to ESPN's Bobby Marks.
Although the Bulls are poised to be without Caruso and Lonzo Ball, who is scheduled to undergo knee surgery this week, they could be getting some reinforcements back from injuries soon. Zach LaVine (knee) and Javonte Green (groin) are both expected to meet the team on Monday in Oklahoma City. Donovan said there is "a chance" both players are available to play.
"Provided everything goes well," Donovan said. "We'll see where they're at physically."