“Covid attacked my central nervous system, and I’ve had long Covid since,” she told BBC Sport. “I haven’t had the preparation I would like to have done, the medical staff have looked after my training.
“The normal benchmarks for me to work out how I have been doing, but I haven’t been on a blue carpet this week, I haven’t raced any of the girls so I don’t know where they are at or where I’m at. So there are a lot of unknowns.
“But I only have one body, I respect it, and we have another six weeks. I just have to have confidence and use my experience that my body will get me there. You cannot push things when it comes to breathing.”
Asked whether she will be ready for the games, Steadman said: “It is going to be a fine line. Normally I would like to feel ready to race about three months before a Games. I don’t feel ready right now.
“We have a plan which will be down to the line, so I likely won’t feel race ready until a couple of weeks before.”
The women’s PTS5 triathlon is scheduled to take place in Paris on 1 September.
Steadman still expects to be competing for a medal on that date against British team-mate Claire Cashmore and American triathlete Grace Norman, who are ranked one and two in the world in her category.
They are also the two women Steadman beat to gold in Tokyo, with Norman taking silver while Cashmore had to settle for bronze after receiving a one-minute penalty for a drafting violation.
Among the other members of the British squad are six-time world champion Dave Ellis – who will race with guide Luke Pollard – and Rio 2016 silver medallist Alison Peasgood, alongside her guide Brooke Gillies.
Michael Taylor will also return having finished seventh in Tokyo, while Mel Nicholls will compete in her third Paralympic Games and her first since moving into Para-triathlon from athletics.
Paralympic debutants Henry Urand, Finley Jakes, Hannah Moore, Megan Richter and Oscar Kelly – with guide Charlie Harding – complete the GB team.