Last night at the Saturday Night's Main Event PLE, Cody defended his Undisputed WWE Championship against the former WWE Universal champion Kevin Owens successfully. The promotion even brought back they are famous Winged Eagle World Championship for this match.
After the match, when Cody was celebrating with this famous championship belt, Kevin Owens attacked him from behind, and once again he used the devastating Pile Driver which took Randy Orton out of action earlier. So far WWE has booked this to move really strong which can take out any wrestler at any time.

Breaking: Cody Rhodes Injured! May Get Forced To Vacate The Title
After the event it was reported that Cody had a cervical swelling by the Package Piledriver hit by Kevin Owens. Cody had to be taken out of the arena by a stretcher which showed the gruesomeness of the Pile Driver that Owens hit. WWE posted the following regarding this injury;
Cody Rhodes Defended His WWE Title Against Kevin Owens at Saturday Night's Main Event
BREAKING: Earlier today it was confirmed that Cody Rhodes suffered cervical swelling and was kept overnight at a local hospital for observation. While X-Rays were negative for a fracture, Rhodes has been officially diagnosed with axial compression of the cervical spine, as well as a cervical strain with spasm.”

Kevin Owens Attacked Cody Rhodes After His Defeat
This is what Dr. Chris Featherstone reported about the injury; "I was informed that Triple H’s physical involvement following Kevin Owens’s post-match attack on Cody Rhodes at #SNME is only to elevate Owens as a heel, and the Cody/Owens feud is slated to continue. A Triple H in-ring return is not in the plans at this time.”
As of now it is not confirmed if the injuring was real or kayfabe. But if the injury is real and if it takes a long time for Cody to healed, then he may have to vacate the Championship. We hope the injury is nothing serious and he get back to injury soon to continue his amazing WWE Championship run.