Auto Motor und Sport quoted a Baku race steward as saying they "almost" decided to disqualify Vettel during the race.
What is clear is that, between the championship contenders, emotions ran high not just during the race but also afterwards.
Mercedes' Hamilton suggested he would not answer a call from Vettel to discuss the incident.
But Mercedes chief Wolff said: "I think they should talk with each other once tempers have cooled.
"I think in a few days time Seb will realise that his action was not great.
"Definitely the events were not helpful for the future of their relationship, but it was always clear that this could happen.
"I think there is still respect between the two of them. They are two greats of the sport."
Meanwhile, Wolff thinks the issue of further penalties for Vettel should not be revisited by the FIA.
"He got his penalty already so it's over. My head is already in Spielberg," he insisted.