I am a contract and employment attorney with clients in the entertainment industry including WWE and AEW. But not Jericho.
Freezes are built into the contracts for injuries or outside ventures that take the performer away for longer than 6 consecutive weeks. Typically the freezes are limited to 6 months but may, on occasion, extend up to a year under certain circumstances.
For Jericho, I would speculate this was built into his contract that the term of his performance deal would freeze any time he is away touring for longer than 6 weeks. He is fully paid during this time and the clock starts running as soon as he is "eligible for booking" it does t matter if the company doesn't use him during this period.
Also contrary to internet lore, save for a few talent who have rights of first refusal built in by the company, there is nothing that prevents them from negotiating with another company for a future term contract as long as that contract is executed after full clearance of their current contract including any freeze period. The only stipulation is that any and all promotion, marketing, or advertising of this future deal is prohibited until said time their contract with the current company has expired or they receive their full release.
Those few talent in which the company maintains a ROFR clause, that doesn't prevent them from negotiating but they cannot agree to a future term deal until said time as their current company has had a set period to evaluate that offer and to make an offer that is equal to or greater. Often, if the current company matches that offered deal the talent is compelled to sign that matching deal. And what the definition of "matching" is usually predefined and clear.
I have only over known of a hand full of talent with ROFR clauses.