Dave Meltzer of Wrestling Observer Radio reported an exact opposite of what was previously reported. Austin Aries did not ask for his release but he was thrilled when he got it and WWE’s story is that it was the company that initiated the release.
Although Aries will be able to use his name when he wrestles for another promotion or possibly the indies, he will not be able to immediately compete with Impact, New Japan or even ROH. As of the moment, WWE would likely let him work on the indie scene with WWE’s approval. It was also brought up that Aries almost walked away in the past by quitting the business altogether.
Aries was believed to be in the middle of a three year contract which was set to expire in 2019, but WWE is not holding him to that deal that is why they granted him the release. This mean that for 90 days the company will pay him and enforce a non-compete clause, but after the 90 days are up he’s free to go anywhere.

Source: Wrestling Observer Radio