Frank was sacked by Tottenham in February, nine months into a tenure that succeeded Ange Postecoglou and that produced back-to-back 17th-placed Premier League finishes.
He had been linked with the vacancies at Crystal Palace and Fulham before Palace sought a successor to Oliver Glasner and Fulham entered talks with Kieran McKenna following Marco Silva's departure to Benfica.
The 52-year-old, who will serve as a pundit for both Danish television and the BBC during the World Cup, addressed his situation directly.
"Leaving Tottenham has given me the chance to step back and reflect on my journey so far. Football management is a profession that demands complete commitment every single day, and periods like this are a rare opportunity to assess, learn and gain a fresh perspective."
He pushed back on any perception that his time at Spurs had been defined only by poor results.
"From the outside, it may have looked like a time of many challenges at Tottenham when results were not what we wanted.
"From within, however, it becomes clear why the club is so special — full of talented people who work tirelessly every day. I have no doubt Tottenham has a bright future."
On his plans, he was clear.
"There have been conversations and opportunities since leaving Spurs, but I have decided not to rush into the next role. For me, this summer is not the right time to go back into management. When the time is right, I will look forward to my return as a manager, ready to embrace the job with great energy and dedication."
Frank managed Brentford for seven years before joining Spurs, guiding the west London club from League One to the Premier League and establishing them as a consistent top-half side.