The Storm star will miss between four and six weeks, with Craig Bellamy now needing to replace the star for what has been billed as the biggest regular season match of the year to date.
The two top of the table teams will play in front of a sold out Suncorp Stadium during the third Saturday game of magic round.
Papenhuyzen's loss saw Bellamy suggest a decision wasn't going to be made by Tuesday, when the team list suggested Nick Meaney would be the one moved to fullback.
At the 24-hour, 19-man squad updates on Friday evening however, Bellamy elected to bring Tyran Wishart into the side at fullback, moving Meaney back to the wing where he has been a star so far this year, with Dean Ieremia dropping out of the side.
Speaking after the club's captain's run on Friday though, coach Craig Bellamy said Munster, who has played at fullback, could well spend time there against Penrith.
"Munster has played plenty there so we've got some options," Bellamy said on Friday.
"He's gone there a couple of times this year ... we'll start a certain way but if that's not quite working out we can make some changes."
The star has played at both half and fullback in the NRL, and in State of Origin previously, with the Storm having options available if Wishart is unable to live up to the enormous boots he will be filling in for.
Kick-off is scheduled for 7:45pm (AEST) on Saturday evening.