Does the Time Remaining until Expiration Make Early Exercise of an In-the-Money Put More or Less Likely?

Generally, as the time remaining until expiration decreases, the time value of the option decreases. This makes the forfeiture of time value less costly, increasing the likelihood of early exercise for a deep in-the-money put.

Conversely, with a long time to expiration, the time value is higher, making early exercise less likely.