The midfielder - who is the Gunners' highest earner on £350,000-a-week - is said to be willing to take a cut in the future, but first wants to see the financial impact of the coronavirus pandemic.
As reported by Mirror Football, Ozil is one of three players in the first team squad to not accept the cut.
While the number 10 respects the other players and the group's decision to take a pay cut, he is also said to want them to respect his choice too.
The publication notes that Ozil's agent Dr. Erkut Sogut declined to comment.
However, he recently said: "Deferral is an option but not to agree a cut today when the clubs may still make the same profit as last year.
"What the exact financial impact is on the clubs, we can see three to six months later - but we can't see it today."
Meanwhile, the Professional Footballers' Association has urged Premier League clubs to only ask for deferrals.
Arsenal players will take the 12.5% drop for 12 months until March next year, but the money will be repaid in full if the team qualify for the Champions League either this season or the next campaign, and the stars will also get a £100,000 bonus.