Slap whatever word on it you want, but Jordan Love is not "holding out".
The Packers and his agent have been working on an extension for a while now. He participated in all of the offseason workouts and he's currently in training camp. He's participating in all of the non-contact parts of camp (meetings, team activities, etc.) just not actual practice. Makes total sense. If he gets injured/significantly injured before a contract is finalized, he stands to lose a fair amount of money.
Would not be surprised if the extension is announced this week.