Victor should be off crutches by the time he walks on stage at the Arnold Classic, at the 20th anniversary reunion with all of the other winners. The question is if he can, after a 3 month or so recovery period, get back into contest shape for the Olympia, which he is qualified for.
I don't see why need, given that the Olympia is in September, which means he needs to prepare seriously for it around June. That gives him a 5 month recovery period, and he can train somewhat before then, albiet on on his leg.
Then again, taking a year off, and dominating next year might not be a bad idea. Phil Heath and his pictures show what can happen if you do that.