During the summer, the West Midlands outfit made the decision to hand a new four-year contract to current incumbent Gary O'Neil.
That was reward for an encouraging first campaign at Molineux and owners Fosun International looking for stability having sold the likes of Max Kilman and Pedro Neto.
However, an immensely-difficult opening run of fixtures in this season's Premier League has led to a downturn in mood, Wolves having collected just one point from seven games.
Context is required with matches being played against Arsenal, Chelsea, Nottingham Forest, Newcastle United, Aston Villa, Liverpool and Brentford, none of whom are sitting below 11th position in the standings.
Nevertheless, despite the backing of one of his key players, O'Neil is aware that conceding 21 goals over that short period of time has led to his tactics coming under increasingly scrutiny.
British managers eyeing potential vacancy
Reports have suggested that Fosun international have every intention of backing O'Neil, albeit aware that fixtures against Manchester City and Brighton & Hove Albion have the potential to extend their dismal run.
According to Football Insider, though, Graham Potter and David Moyes are monitoring the situation in the event that an opportunity arises.
Both Potter - most recently at Chelsea - and former Everton, Manchester United and West Ham United boss Moyes are said to be "very keen" on managing Wolves if O'Neil is sacked.
The report adds that the pair are not alone in viewing Wolves as an attractive option given the talent that O'Neil has at his disposal.
Who would be more suited to Wolves?
When appointing O'Neil, Wolves were switching from a prolonged period of Portuguese and Spanish managers to an Englishman, O'Neil being the first permanent British manager since Paul Lambert back in 2016-17.
Given the amount of foreign players - particularly Portuguese speaking - it would come as no surprise if Wolves went for a Portuguese or Brazilian boss if they replaced O'Neil.
That said, the lure of appointing Potter who is proven at developing their own players - something that Fosun demand - at a time when he has been linked with higher-profile jobs may sway the heavily-criticised owners.
Potter would be judged on his time at Brighton as much as Chelsea, where he was handed just 31 matches during a turbulent period for the club, but Moyes has credit in the bank from his time at West Ham United, too.
Although Potter would likely be deemed as the more attractive choice, Moyes turned a similarly-sized club such as West Ham United into a team that managed top-eight finishes in the Premier League and won a European trophy.