The 96-year-old monarch is said to want to pace herself during her milestone celebrations.
Saturday June 4’s The Derby was to be a personal highlight for the Queen during the four days of Jubilee festivities.
The head of state, a passionate horse owner and breeder, was due to be greeted on the course with a special guard of honour including up to 40 of her past and present jockeys.
But the newspaper revealed the monarch is now “increasingly unlikely” to head to Epsom.
Buckingham Palace declined to comment on the story. They said the Queen’s attendance at events would not be confirmed until closer to the time.
Currently the nation’s longest reigning monarch is on a pre-Jubilee break in Balmoral, Scotland where she has been relaxing.
In recent months, she has been facing episodic mobility problems and she has had to ski p a number of important events including the State Opening of Parliament.
She is, however, expected to delight the crowds with a double appearance on the Buckingham Palace balcony at the start of the celebrations after Trooping the Colour on Thursday.
Her Majesty will appear again after the Pageant parade finale on Sunday.
The monarch is also hoping to be able attend the service of thanksgiving at St Paul’s Cathedral on Friday.
She hopes to attend alongside her wider family including, it is expected, the Duke and Duchess of Sussex and the Duke of York.
It could be the first time Harry and Meghan have been seen alongside the Windsor group since they stepped down from their roles as senior royals.
The monarch is expected to spend time at some stage with the Sussexes who are bring their children Archie and Lilibet over from the US.
Lili celebrates her first birthday on the Saturday but it is not yet known when she will meet her great-grandmother in person for the first time.
At the BBC’s Party At The Palace concert in front of Buckingham Palace on Saturday night, both the Prince of Wales and the Duke of Cambridge are said to be preparing to pay public tributes to the Queen during the event.
The star-studded night will features acts including Diana Ross and Queen + Adam Lambert.
Her Majesty is not expected to be there and will watch on television instead from Windsor Castle.
On Sunday, thousands of people will gather across the country as more than 85,000 Big Jubilee Lunches and street parties are staged in celebration of the Queen’s record-breaking 70 year reign.
The Met Office is predicting sunny blue skies and dry weather on Saturday with temperatures hitting 21C.
In a personal message ahead of the celebrations, Prime Minister Boris Johnson has praised the monarch’s leadership, wisdom and lifelong service.
— Boris Johnson (@BorisJohnson) May 29, 2022
“With the first Platinum Jubilee ever, no monarch has ever served the country so long and, more importantly, no monarch has ever served it so well,” Mr Johnson said.
“Providing leadership and wisdom, this remarkable woman has dedicated her life to serving her people and to her beloved Commonwealth.
“She has led this country through good times and bad, inspiring people to serve others and their communities to create the pride and allegiance that unites us all.”