Parker, who joined Aston Villa from West Ham in July, received her first senior international call-up in September 2022, but was forced to withdraw from the squad because of injury. She has yet to make her England debut.
Wubben-Moy will remain at Arsenal, while striker Alessia Russo will report to St. George's Park on Wednesday after a period of recuperation ahead of the international window. Keira Walsh and Beth England had both already been ruled out of the squad through injury.
England are in a group with Belgium, the Netherlands, and Scotland in League A with the winners of each group qualifying for the semi-finals in February.
England can qualify Team GB for their third Olympics via the Nations League, after featuring in the 2012 and 2020 Tokyo Games. The two Nations League finalists - plus Olympic hosts France - from the 16-nation tournament clinch berths in the Paris Games.
England take on Scotland on Friday before an away game with the Netherlands on September 26.
