The former Hearts star had been called up by Scot Gemmill for the matches against Kazakhstan and Belgium.
Hickey has been in fine form with Bologna, starting all 12 matches in Serie A this season.
However, he has opted to sit out the international break and concentrate on playing in the Italian top-flight with Venezia next up with Bologna just four points outside the Champions League spots.
“He’s not injured,” Gemmill confirmed. “He’s asked to rest.
“Aaron feels he’s played a lot of games, he had surgery in the summer and he feels he needs to prepare for his next game in Serie A.”
Hickey also pulled out of the last month’s Scotland Under-21 squad.
The 19-year-old is yet to play for his country at that level but has been excelling at club level following his move from Hearts in the summer of 2020.
Hickey has scored twice this season, in a draw with Genoa and win over Lazio.
“Of course,” Gemmill said when asked if he took the news at face value.
“We have to respect his decision. He is a young player who knows what he needs.
"I have to concentrate on the players who are here. We have a big game on Friday and another one on Tuesday. We are concentrating on preparing the players that are here and hopefully we get to work with Aaron in the future.”