The 46-year-old Hoch has been one of the Colonial's most consistent players, finishing in the money in 15 of 17 appearances. His best finishes were a second-place showing in 1991 and a third in 1985.
Hoch's withdrawal leaves the field at 125 players.
The tournament starts on Thursday at the Colonial Country Club in Fort Worth, Texas. Sergio Garcia is the defending champion.
The best result this year for Hoch came at The Players Championship in March, when he tied for fourth place.
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