The Briton took part in first practice for Williams at the Spanish Grand Prix on Friday with the 14th fastest time, quicker than struggling McLaren's world champions Fernando Alonso and Jenson Button.
At present Wolff lacks the necessary super licence to compete but she told reporters that was not her biggest obstacle.
Asked whether she might apply for one before the rule change, given that she has done the necessary mileage, Wolff saw no point.
"I think I would still qualify for the Friday super licence next year. I can't apply for a super licence if I'm not going to do a race," she said.
"If a race was close to happening, which right now it is not, then I'm not going to jump a step ahead of myself. I can't go and ask for one because they would ask what I need it for," added the 32-year-old.
"I have time in an F1 car, I do a lot of simulator work so that cannot be the reason to stop me doing a race. If that opportunity came the super licence would not be the thing to stop me."
From 2016, drivers will need to have earned points in other series, if not in F1, to get a super licence.
Wolff has not raced single seaters for a decade and most recently competed in the DTM (German Touring Cars) which is not on the list of eligible series. However exemptions are expected to be allowed.
Wolff will take part in practice again at her home British Grand Prix in July and test in Austria in June but she recognised her dream of racing was still far away.
"As a driver I felt so much more prepared on the track today than I did at Silverstone last year," she said. "You gain so much experience every time you're in the car it means you can push more and be more prepared.
"I'm not the reserve driver for the team, so that means I'm far away from a race day...close but far away."
Wolff also remained convinced she could "bring something to the table".
"I feel 100 percent that a woman can compete at this level," she added.
(Reporting by Alan Baldwin, editing by Toby Davis)
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