The three-year-old was sent off as the 4/5 favourite for Saturday's Group Two York Stakes but had to settle for third, beaten by surprise winner Bangkok who sat in last for much of the extended 10-furlong trip.
Angus Gold, racing manager for owner Shadwell Estate, said: "I think it's fair to say we probably got our tactics wrong, which didn't help him by setting too slow a pace.
"William feels this horse could easily have the speed to come back to a mile - and having said that, he has won three times at a mile and a quarter, so we can't say he doesn't stay.
"I think he just tried to quicken from behind off a quickening pace, if that makes sense. They sprinted, and he had plenty of ground to make up, and I think that's why you could argue he didn't stay - but I think it was more he had to make up his ground and he ran some pretty remarkable sectionals and just got tired."
Mohaafeth had previously impressed in winning three times in the early part of the season, before soft ground at Epsom scuppered a Cazoo Derby run.
Having gained compensation with victory in the Hampton Court Stakes at Royal Ascot, the Frankel colt is a general 12-1 shot for the International on August 18 - and is also entered for the Celebration Mile at Goodwood, Irish Champion Stakes and Prix de l'Arc de Triomphe.
Gold added: "We have all the options open. He's still in the Juddmonte - had he won nicely on Saturday, that's where we would have been heading.
"We'll see how he comes out of it, how he is, and that's still an option - and everything else is still to be discussed."