The 59-year-old is departing the HBO show, which has started filming season four, after problems with character, and the part will be rewritten and recast in the coming weeks.
A HBO spokesperson said in a statement to Deadline: "With filming just under way on season four of The White Lotus, it had become apparent that the character which Mike White created for Helena Bonham Carter did not align once on set.
"The role has subsequently been rethought, is being rewritten and will be recast in the coming weeks.
"HBO, the producers and Mike White are saddened that they won't get to work with her, but remain ardent fans and very much hope to work with the legendary actress on another project soon."
Chloe Bennet, Sandra Bernhard, Vincent Cassel, Steve Coogan, Caleb Jonte Edwards, Dylan Ennis, Corentin Fila, Ari Graynor, Max Greenfield, Charlie Hall, Marissa Long, Alexander Ludwig, Chris Messina, AJ Michalka, Kumail Nanjiani, Jarrad Paul and Nadia Tereszkiewicz have previously been announced as cast members for season four.
Heather Graham, Rosie Perez, Ben Schnetzer, Tobias Santelmann, Frida Gustavsson, and Laura Smet later joined the cast.
The fourth season of the show will take place at a luxury resort in France, with filming locations on the French Riviera including Cannes, St Tropez and Monaco.
The Airelles Chateau de la Messardiere in Saint-Tropez will double as the White Lotus du Cap and the Hotel Martinez as the White Lotus Cannes.
Some filming will also take place in Paris.
The show made its debut in 2021 with a season set in Hawaii, followed by instalments in Italy and Thailand.
Each season has included at least one returning cast member, with Jennifer Coolidge appearing in the first two seasons, and a storyline in the third season involving Natasha Rothwell and Jon Gries.
Conceived during the COVID-19 pandemic, The White Lotus was designed as a contained production set in a luxury resort in Hawaii, allowing filming to proceed under strict conditions.