There are several sites, including PWInsider, reporting that the reason why Kaitlyn left WWE was that she wasn't being used enough.
Kaitlyn apparently requested her release months ago and was asked by WWE officials to stick around a little longer as they had something in mind for her. However, after those plans failed to happen, she again asked for her release. This time, WWE granted her wish.
Reports suggest that Kaityln is not looking to wrestle on the independent scene, but is open to doing the occasional convention or other wrestling-related appearances. It's also believed that she's working on other projects outside of wrestling, along with her fiance, PJ Braun.
Kaitlyn has changed her Twitter profile to her real name, Celeste, and in the description, says she's the creator of "Celestial Bodiez (coming soon".) Her fiance is a retired fitness coach, so the two are likely working together on a "health and fitness" project of some kind for the former diva.