The French club announced in a statement on Tuesday that Olle-Nicolle will not be involved in team duties while an internal investigation takes place.
Olle-Nicolle, 61, has been in charge since July 2021.
"Paris Saint-Germain has been made aware of inappropriate behaviour and remarks that members of its Women's Team have been exposed to," a PSG statement read.
"These remarks and events, if confirmed, would be incompatible with Paris Saint-Germain’s sporting and human values.
"Paris Saint-Germain is taking this situation seriously and intends to bring to light the reported events and remarks.
"In order to protect the interests of all parties, the coach of the Women's Team has been suspended today, in agreement with Paris Saint-Germain.
"This is a fair and temporary measure. It will not prejudice the internal investigation that will be undertaken, nor impact the decisions that the club may be led to take."
PSG is second in the French top flight and host leaders Lyon, which is five points better off, in its penultimate game of the campaign on Monday (AEST).
They won the French Cup earlier this month and also reached the last four of the Women's Champions League, where they were eliminated by eventual champions Lyon.