Certified Wound/Ostomy RN here. Not a vet. Unfortunately, I’ve had to use my training for my horses, more than once…This just reflects what I do. Your vet has final authority.
You don’t say exactly where the wound is, how deep it is, close to joints? or affected by motion of the leg. If you can leave a standing wrap on, I would if it were my horse. Compression helps to control proud flesh and actually promotes appropriate blood flow. As does keeping excess moisture out. What I have done in the past with wrappable/bandageable wounds is: clean with Vetricyn. I have grown to really like this product after initial skepticism. Excellent aid in bioburden control and non irritating/painful. Make sure it is not outdated as it does break down over time, rendering it less efficacious. Apply inner/primary dressing. This will depend on if the wound is dry…you want to add a bit of moisture…I use a Vetricyn moistened gauze, covered with Vaseline gauze (for really dry wounds) or just Telfa. I often will protect the intact skin edges with a diaper ointment/zinc oxide as a barrier. Don’t worry if it gets onto the open wound. Next, add a layer of cast padding type of material, at least over any boney prominences and tendons. Finally standing wrap. Change daily. If the wound is draining at all, don’t use a moisture bandage, use an incontinence pad (NOT just a menstrual pad which is just cotton) to absorb drainage. The size/thickness of the pad will depend on the amount of drainage. from thin panty liner style to full on diaper. If it is a moist wound but not really draining, see how just using a Telfa works. Be flexible, be creative. I tell my patients wound care follows the “Goldilocks Principle” Not too much moisture, not too little, just enough to help the new cells grow and divide. With horses and their propensity for proud flesh, I might tend to err on the dry side. Excess moisture and the dependent lower leg position really promote proud flesh. Another consideration is how wet the living environment is and will that make a bandage impractical. I’ve had wounds where I’ve just sprayed Vetricyn 2 x day and left it open to air. Also, if the wound bed looks/feels slimy, that is an indication of the presence of a biofilm which will inhibit healing and closure (“epithelialization”) I would then use a Vetricyn moistened gauze to gently rub/debride that biofilm before applying a new bandage. Hope this helps.