Rishabh Pant is considered a natural replacement for Dhoni behind the stumps while batsman K.L. Rahul has also impressed as a stop-gap wicketkeeper.
Dhoni began training with his Chennai Super Kings team for this year's IPL but the tournament has been deferred until April 15 because of the pandemic and another postponement seems inevitable.
"I am not going to be diplomatic ... If the IPL does not happen then his chances are very,very bleak,"Srikkanth,also a former chief selector,told the Star Sports television channel.
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"In my opinion,K.L. Rahul will be the wicketkeeper-batsman ... I believe Rishabh Pant is highly talented. So,I wouldn't mind taking him along with the squad.
"But definitely,if the IPL doesn't happen,then Dhoni will have a difficult time getting back into the team for the T20 World Cup."
The Twenty20 World Cup is scheduled in Australia from October 18.