The South African authority declared that the decision was taken to avoid what it described as a rushed presentation to Fifa in December.
The deadline for submitting precise plans from candidates to host the competition was set by Fifa for December 8.
Following this withdrawal, three bids from the Netherlands and Germany, Belgium, Brazil, United States and Mexico are remaining in the running to host the 2027 World Cup.
The country or countries selected will be decided at the Fifa Congress to be held in Bangkok in May.
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