Last month, The Telegraph exclusively revealed that the Red Devils are prepared to wait for the summer transfer window to sign the Danish global for free.
The 34-year-old was once a quality member of the Manchester United team, after joining Sir Alex Ferguson's side from Aston Villa back in 2011, but has dwindled away with age, now serving as a backup fullback who was overly relied-upon as a starter a year or two ago.
Conte would like Young to join this month but United have injuries to contend with in their side and they may want to wait until the summer.
One of those linked with a switch, despite having recently signed a new contract, is Sporting CP's Bruno Fernandes, though Solskjaer says United will not be very busy this month.
Hodgson has been a long-term admirer of Young's abilities since he worked with him when England manager and believes he can promise regular first-team football at Selhurst Park.
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He said, "He is our captain".
"Ashley has been very professional and focused and I don't think that will change. It is all effectively and good saying we have to go on the market and spend, however who's going to maneuver membership in January?"
Asked if Young will depart before the end of the season, he added: "That is a discussion me and Ash will have if something comes up".
"There are players all over that squad - there's no need to get into naming and shaming - who are just not up to it", Bosnich told Sky Sports News.