Could a wolf figuratively figure out how to preserve hides? It would be rough and rudimentary, and certainly not always successful, but there are some very basic tanning techniques.
skins can be torn off with teeth.
oak trees produce salt. Fleshing can be done by dragging the pelt over rocks.
Brain tanning?
I know characters have preserved pelts before, and nothing has been said against the practice. Easthollow has often gifted their allies with tanned “blankets” of bison skin, for example, and one character on-site (Lavender) wears a preserved coyote pelt to keep her warm during winter. I would reckon the answer is yes, based on this IC evidence :)
IIRC Kukutux also wears a small hide from time to time! So there is definitely IC evidence of that behaviour.
Depending on how realistic you wanna go with it (and since wolves have no way to use tools / cure leather / make a true 'hide' for wearing) I imagine that the pelts would go rancid over time, and/or leave the wearer smelling pretty funky. It would be a good way to carry an emergency snack or hide your own scent if your character was a rogue, mercenary, or something though.
I'm fairly sure Kukutux regularly preserves hides, plus the aforementioned wearers/givers of said hides.
Having hides is okay, tanning would go too far. Wolves can't extract many of the additives needed to properly tan a hide.
That being said, skin separates pretty easily from subcutaneous tissue when pulled the right way, so I imagine rough/coarse pelts would be perfectly fine. A wolf could possibly try to extend their shelf-life by maybe curing them somehow (sunlight, saltwater, maybe a sulfur-rich water source like the geysers) but yes, hides would be perishable at some point and not truly preserved the way tanned hides are.
Hope that helps. :)