With Muamba still in a critical condition following his cardiac arrest at Tottenham on Saturday, there have been suggestions that Bolton want to pull out of the tournament because the prospect of playing at White Hart Lane again so soon is not one they feel comfortable about.
Although tomorrow's Premier League trip to Aston Villa was called off, Davies feels emotions are too raw to start thinking about further matters of such significance.
"You ask yourself what would Fabrice want you to do," said Davies.
"I know he wanted to play. But Fabrice is in there (the hospital). Hopefully we can ask him in a few days, but for now it is just impossible."
Davies was amongst those who returned to training this morning after an optional session had been called by the club's backroom staff as manager Owen Coyle maintained his vigil at Muamba's bedside.
Bolton's captain accompanied the Scot on Saturday night following by far the worst incident of the three this season that have ended with the former Southampton man travelling in the back of an ambulance or police car to comfort team-mates this season.
He admits a feeling of utter helplessness as the medical staff who have earned so much praise battled to get Muamba's heart going again.
"There is no doubt in my mind if it wasn't down to all those people, we wouldn't even be in this situation," said Davies.
Even so, he has had to live with the dread of a call on a phone that has been almost constantly in use since Saturday evening being to confirm the worst news imaginable.
"With what we all witnessed on the day, you are half expecting a phone call with bad news," said Davies.
"We are all amazed that Fab is still in there fighting."
In his role as captain and elder statesman, Davies was at Bolton's Euxton training ground.
He wanted to ensure there was a place of refuge available for those who might be struggling to come to terms with Saturday's awful events, with Mark Davies amongst those particularly badly affected.
"We are all unsure where to go," he said.
"I have suffered losses before with friends and parents. It is important that you try and keep yourself ticking over.
"I am fortunate to have my own family. Some players may be away from theirs.
"It is important for us to keep an eye on them and make sure we are all sticking together."
Although the latest news on Muamba's condition is encouraging, it is clear there will be no short-term recovery and no immediate end to the desolation felt at the absence of such a popular team-mate.
"I have never been so disappointed to see Bolton in the draw for a semi-final," said Davies.
"I wasn't interested in it. That is unbelievable when I consider how much the FA Cup means to me.
"I was sat at home with the kids and I just noticed it was on. Normally we would be planning to be around the TV to see who we got. Yesterday it meant nothing."
Big decisions will have to be made about where Bolton go from here.
Yet how will that be possible when such a significant presence is not there, someone who escaped from his birthplace in the Congo in 1999 to be reunited with his father, who had sought asylum in the United Kingdom five years before.
Someone who overcame the childhood horrors few can imagine to become what Davies felt is a model professional, now lying in a hospital bed 200 miles away, fighting for life.
"There are loads of questions flying about: Where's the club going? Are we competing in the Cup? When is the next league game?" he said.
"But football goes out of the window when something like this happens. Fabrice is someone we see every day. He is part of our family, not just a colleague.
"Nothing has been handed to him on a plate. We all know where he has come from and where he is now.
"He is such a great role model to any young player or young adult.
"He is one of the first in, at 9am, every morning. He eats the right things, he does the right things off the pitch. He trains extremely hard.
"He will stay behind and do stuff. He will be in the gym.
"It is not something you often see with young players.
"They want get in, get out, drive their fancy cars and buy some Gucci clothes and stuff. That is not Fabrice.
"He has got his young son. He has recently got engaged. He has been planning for the wedding next year.
"He is very passionate about his family, his football and his friends.
"It is so upsetting."