I don't blame him. Why should a popular former champion fight, while the current champion is trying to move to a new division?
Cody is at the cusp of another title shot (if the UFC makes it official that TJ vs DJ is not happening) or an interim title (if TJ destroys his kidneys and liver during his high risk weight cutting, and the division is forced to move on without him).
If I was Cody, I would also wait until I know exactly that TJ vs DJ has been booked, then I would want to fight on that card. Why? (1) Just in case the fight falls through or (2) To be on the same schedule as the divisional champion.
Unfortunately, this is the new UFC. It makes no sense for contenders to pick fights willy-nilly. They have to look at the landscape and make the right moves.
The UFC has decided to reward celebrity/notoriety before championship level skills. If you make some noise, you can get a title shot after 2 or 3 fights. If you quietly go on beating contender after contender, you may find yourself being 10-0 with no title fight in sight.
The fans make it worse by valuing fighters who have never even been able to accomplish a 5-0 winning streak higher than fighters who have done 5-0 or more with no titles.
The UFC is dying. LOL