I went through this exact scenario back in early July.
Took a week off the gym, the abdominal pain didn't get much better.
Went to the GP and he stated it wasn't a large hernia he could feel bulging, but
when he pressed on my abdomen while I contracted my abs, he felt a soft spot
or a depression in the muscle wall on both sides below my belly button. Not a
true umbilical hernia though.
Had me immediately go get a lab work and an Abdominal CT scan with contrast both drink and IV. This can also be a sign of an intestinal blockage as well as other serious problems. That came back normal. He referred me to a GI for a Colonoscopy as well as a Surgeon consult to verify his findings of a minimal abdominal hernia or weak muscle wall.
I don't do squats since it happened, but am able to do most other lifts and it only bothers me a bit now. I will get the colonoscopy due to my age just to get it out of the way. I am in a wait and see mode as I ramp the Lbs back up on my lifts before I see the Surgeon.
By the way, generally speaking, true Hernias will not heal on their own. They will always have the tendency to get worse until repaired surgically. And even then they can reoccur.