Portuguese forward Jota, who played for both Premier League clubs, died in a car crash alongside his younger brother in July in northwestern Spain. He was 28.
Liverpool did not immediately respond to a request for confirmation from Reuters sent outside normal UK business hours.
Jota joined Wolves on loan from Atletico Madrid in 2017 and made a permanent move to the club the following year. He then signed a five-year deal in 2020 with Liverpool, where he won the league title earlier this year.
Saturday's match marks the first time Liverpool and Wolves have met since Jota's death.
Jota's wife, Rute Cardoso, and her two sons, Dinis and Duarte, were present for the Premier League home openers for both Liverpool and Wolves in August.