Lee ruled out former Sunderland striker Molyneux as the 24-year-old continues to recover from a heavy injury in the draw with Mansfield Town.
But the Pools boss remains more hopeful over Morris and Grey ahead of Saturday’s trip to the New Lawn Stadium.
Morris missed last week’s defeat to Salford City after complaining of discomfort to an ankle injury picked up in the draw with Sutton United back in February.
The Burton Albion loanee missed seven matches in total before making his return at Northampton Town recently.
But Lee revealed the injury was still troubling the 26-year-old and that he might have to manage the midfielder between now and the end of the season with his workload in training.
Grey meanwhile, who was brought off early in the second half of that defeat to Salford, has returned to training with Lee confident the youngster will be available for selection against the league leaders.
“We’ve been trying to assess how it responds with a few more days rest on it to see if we can do that. If it responds he’ll train today,” Lee said of Morris’ injury.
“Hopefully if there’s a slight improvement on that then we know how we can manage that for the rest of the season.
“He could play Saturday then do work that he needs to do until Thursday and get back on the training pitch. So if it works, fingers crossed we can get him out there.
“Joe’s back in,” Lee added to The Mail.
“He took a whack and just said he felt really heavy legged in the game and once Joe’s energy dropped a little bit we needed to try and freshen it up and change it.
“But he was back at it on Tuesday and hopefully he’ll be back for Saturday.”
With the potential returns of Morris and Grey, Lee is close to having a full squad to choose from with Jordan Cook, and Molyneux, the notable absentees.
“There’s been a few scares with illness and different things,” said Lee.
“There’s a few knocks. I don’t think I ever played a game being 100 per cent so you’ve just got to sometimes get on with it.”