Wood, the Clarets' joint top-scorer this season with four goals, missed last weekend's home defeat against Chelsea with a hamstring injury.
Dyche is awaiting the results of a late fitness test for the New Zealand international as he looks to engineer a return to winning ways.
"Chris Wood’s touch and go," he said in his pre-match press conference, as quoted by the Lancashire Telegraph.
"He’s making a good recovery but you always get those moments of decision, should we, shouldn’t we?
"The player’s included in that and we’ll talk to him over the next 24 hours about that."
Jay Rodriguez, who started and spectacularly scored against last time out, can be expected to deputise once again if the game comes too soon for Wood.
Gudmundsson and Bardsley concerns
Influential winger Johann Berg Gudmundsson has made only four starts this season after two injury setbacks.
The latest is a hamstring problem sustained on international duty, which Dyche says will keep him out for further 'weeks' rather than 'days'.
Elsewhere, Phil Bardsley, who has yet to feature in the Premier League this season but serves as a back-up option to Matthew Lowton, could be unavailable for the trip to Bramall Lane due to a back complaint.
Further Drinkwater progress
Dyche confirmed that on-loan midfielder Danny Drinkwater is 'injury free' as he pursues a league debut for the Lancashire outfit.
He has recovered from an ankle injury sustained in a non-football incident and could be involved in full team training next week.
But the manager is already facing questions over the 29-year-old's future.
His deal expires in January, and his solitary appearance thus far came in a shock League Cup defeat at the hands of Sunderland.
It is not yet clear whether Burnley will have an option to extend his stay.
"We weren’t thinking it was going to transpire as it has done," Dyche conceded.
"That leaves it in a different place that it could have been if he’d been fit and well and either playing or figuring.
"We’ll figure that out (his future) as we go from here."