The Flames signed Wolf to a three-year entry-level contract on May 1, 2020. On Oct. 15, 2020, "The Athletic" named Wolf the fifth-best goaltending prospect affiliated with an NHL team. In advance of the pandemic-delayed 2020–21 hockey seasons for both the NHL and the WHL, Wolf was again named to the Team USA roster for the 2021 World Junior Ice Hockey Championships. On Dec. 26, 2020, Wolf recorded his first career World Junior shutout, making 10 saves during Team USA's 11–0 win over Austria.