Williams’ hopes of playing in Saturday’s doubles looked to have improved after their match was added to order of play on Friday.
Their match against Colombia’s Camila Osorio and Argentina’s Solana Sierra was not allocated to a court and not due to be played before 16:30 BST.
It suggested Williams was being given as long as possible to declare herself fit after her knee swelled up during a gallant three-set loss to 20-year-old Joint.
The loose plan also left Wimbledon with no scheduling issues in case the American superstars did withdraw.
Williams was due to practise at the All England Club at 16:00 but announced her decision to pull out about 15 minutes before.
“I’m especially grateful to tournament director Jamie Baker and the entire tournament team for giving me every opportunity to play here,” said Williams.
“Thank you to the fans after your incredible support and for making this comeback so meaningful.
“All I can say is stay tuned to a city near you.”
Williams has not confirmed what her plans for the next stage of her comeback will be.
After Wimbledon, the season switches to the North American hard court swing which culminates at the US Open between 30 August and 13 September.
