Hamilton leads the F1 World Drivers’ Championship by 28 points from Sebastian Vettel but could see that lead cut if they continue to lag behind the front-runners.
Mercedes are also gunning for a fourth straight Constructors’ title and will be loathe to give up any of their 102-point lead over Ferrari.
However, they were more than a second off Ferrari’s pace in Friday afternoon’s practice session but Wolff denied that this was a hangover from the Singapore Grand Prix, where Hamilton achieved a fortuitous victory after qualifying in a disappointing fifth.
“It’s completely different tracks,” Wolff said.
“You can compare Malaysia to Silverstone probably, where we have been very good at high speed.
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“But we’ve not been very good at high speed here.
“There is a fundamental issue in the car that we need to find out.
“They are very complex so it can be a kind of detail that just unsettles the car.
He added: “There is some gremlin in the car.”
This season has been in contrast to the previous three where Mercedes were supremely dominant over the rest of the field – only two races were won by non-Mercedes drivers in 2016.
And Wolff admitted the car has been inconsistent which has allowed Vettel and Ferrari to keep up with them.
“It’s a bit of up and down with the performance of the car,” Wolff said.
“We’ve been exceptionally good on some tracks, Monza was one of those where we were a second ahead, Silverstone the same.
“And then others where we have these moments of lacking the understanding as to why we are not performing.
“It’s difficult to understand.”