Calvert-Lewin has struggled with injury issues throughout the 2022-23 campaign, but he has managed to start the last five matches.
However, the striker was brought off at half time of Sunday's 3-0 defeat to Manchester City due to a groin problem.
Speaking ahead of Saturday's trip to Molineux, Dyche has given a positive update on Calvert-Lewin's injury status.
When asked whether the striker had avoided any damage to his groin, Dyche replied: "Hopefully. He's had a few down days and it's looking more promising so yes, he'll be with us training again tomorrow but he's come through the last couple of days well."
The Everton boss was not as hopeful about Mykolenko's chances of being involved in the matchday squad for Saturday's trip to Molineux.
The Ukraine international missed the defeat to Man City with a thigh issue, and Dyche has admitted that it would be a risk to play him.
"I doubt he will be right for this one," Dyche said. "He has got a chance for the next one."
"It's a risk-and-reward scenario but he hasn't trained so I doubt he'll be ready for this one. Myko is close but it is whether we take a gamble on that with only one to go (after this weekend)."
With Mykolenko unavailable and Seamus Coleman ruled out for the rest of the season, Dyche is currently without the services of his first-choice full-backs.
Mason Holgate deputised in Mykolenko's absence last weekend, but Dyche was asked about the possibility of Dwight McNeil featuring a left-back against Wolves.
The Everton manager added: "Yes, we'll look at changes in shape as well as changes in personnel and find the best way possible.
"Obviously, we've lost our full-backs, unfortunately, Myko is close, it's just whether we take a gamble on that with only one to go of course."
Tom Davies is also set to miss out due to an injury issue, while the Toffees are still unable to call upon Ben Godfrey, Ruben Vinagre and Andros Townsend.
The Toffees head into the weekend in 17th position in the Premier League table with a two-point gap to the relegation zone.