The top animator took a leave of absence at the end of 2017 as misconduct allegations began to swirl around him, and he was let go by Disney last year (2018) after a six-month sabbatical.
Lasseter has apologised for behaviour that may have made former colleagues uncomfortable and recently insisted he's a changed man after taking an executive role at Skydance, but Thompson is reportedly unhappy with the hire and she has dropped out of studio's new film.
According to The Hollywood Reporter, the Oscar winner had already begun recording sessions for her role in the movie, which will be directed Alessandro Carloni. She was set to play the leader of a good luck organisation, which is battling with members of a bad luck organisation.
The film is set for release in 2021.
Thompson has yet to comment on the news.
Lasseter's new boss, David Ellison, announced his controversial hire last month (January 2019), insisting the decision to make him Skydance's new executive was not one he and his colleagues entered into "lightly", adding in a statement, "John has acknowledged and apologized for his mistakes and, during the past year away from the workplace, has endeavored to address and reform them."
The executive also apologised to his new colleagues.
"I am deeply sorry for my actions, which were unquestionably wrong. I very much regret making women feel unsafe or disrespected," he said. "I will continue to work every day for the rest of my life to prove to you that I have grown and learned. I am resolute in my commitment to build an animation studio upon a foundation of equality, safety, trust and mutual respect for everyone."