Oakland placed him on the PUP list last month after undergoing surgery on his back earlier this offseason.
Good, 27, is a former seventh-round pick of the Colts back in 2015. The Colts elected to waive Good in December and he wound up being claimed off of waivers by the Raiders.
Good played out the final year of his four-year, $2,332,784 contract and made a base salary of $711,880 for the 2018 season.
Back in March, the Raiders re-signed him to a one-year extension worth $1.8 million and has a maximum value of $3 million back in March.
In 2018, Good appeared in six games for the Colts and Raiders.