The "Dawson's Creek" star, 33, was due to attend Dizzy Feet Foundation gala on Saturday but her spokesman said that Holmes has decided to pull out of the event, being held at the Dorothy Chandler Pavilion at the Los Angeles Music Center.
Holmes is a board member for the Dizzy Feet Foundation, a non-profit organisation which supports dance education, reported Daily Mail.
The Celebration Of Dance event saw performances from "Glee" stars Harry Shum Jr and Chord Overstreet and contestants from 'So You Think You Can Dance' and 'Dancing With the Stars'.
Holmes' last red carpet appearance with Cruise was back in February at the Vanity Fair Oscars party in Los Angeles.
She announced she was divorcing the "Mission Impossible" star at the end of last month following a five-year marriage.