Holmes, a former four-star recruit, has reportedly transferred to Florida State after two seasons in Happy Valley.
Lawson, who wrestled at Penn State from 2012 to 2015, will fight Kevin Szaflarski on September 6 as part of the series.
The Drew Allar news wasn't the only position battle update Franklin provided at Monday's press conference.
"THE CHOSEN ONE IS ASCENDING"
"Taking everything into consideration, the coaching staff felt like this is the right decision."
After his star-studded rookie campaign, Parsons is the only Nittany Lion to appear on this year's list.