emoroacetabular impingement in a nutshell: Your hip is a ball and socket joint, which has cartilaginous ring (labrum) around the socket which acts as a suction seal for the joint among other things. Sometimes the neck of the ball or the socket is slightly misshapen, for example the neck of in away that causes crushing or tearing of the labrum when you move your hip in a certain motion (same type of motion as if you tried to touch your knee to your opposing shoulder). The bony abnormality is usually a long standing thing, and as the press release suggests, this is a re-aggravation of an pre-existing injury.

You always try conservative management like physio, injections, etc, to see if it resolves your symptoms. In a NBA athlete like Isaiah, if conservative measures aren't cutting it, I wouldn't be surprised if they decided on surgery in the offseason to deal with it. Surgery would be arthroscopic (a camera and small tools in the hip to repair the labrum and shave off the bony parts of the ball and socket that are causing the impingement so that the shape of the bones is more normal. Rehab is pretty strenous, which is why the conservative stuff will be exhausted before surgery in considered.