I don't know. So many people on this roster drop in and out of TV for long periods now that you really can't tell anymore if 90% of the roster is in the doghouse.In the last Talk is Jericho podcast, he briefly mentioned Lacey being MIA since ER. He was saying it was very suspicious and that maybe 'someone got too big for their britches.' That someone being Lacey. So, it is possible she is being punished. Jericho knows the business and knows Vince, so his opinion is worth considering.
We simply assumed Lacey was going to be positioned as a Charlotte/Becky/Alexa type where she would be a mainstay based on sheer rumors. The only thing that seemed to be true was that they liked her and wanted to give her some burn in a major program. But there's "like" and "we gonna put you on TV every single week in all the big segments" like.
For example, I think they like Natalya to a certain degree, but not to the point that they'd ever focus the division around her. She bops in and out of the women's title picture and disappears again for a number of months and I doubt it's because she was punished. There are a bunch of others in this position too.
I don't like Lacey but I don't recall hearing bad things about her in NXT either. And she was never booked particularly special on NXT. The thing I remember most about her is beating Kairi once, and then giving the win back to Kairi again the following week.