Yeah, sub out squats and full deads for a month or so, get yourself on the roller to help loosen up your ITB ("the stick" would be my first choice as laying on the roller sideways can be a little overly intense if you ask me) and then get back into squats. I wouldn't even necessarily baby step back in to squatting. If there is no pain I would just get back into it. Sometimes injuries happen and there is no great rhyme or reason. It may go away and never come back, it might come back in a couple weeks, you will just have to figure that out on your own. But backing off and giving yourself sufficient time to heal is warranted.

I doubt this will be the end of your squatting.