If it's an advisory I wouldn't have a panic attack over it right now but would definitely want to get it sorted at the earliest opportunity.
I had a distorted wheel on my V70, only really noticed it when driving away from home in the quiet of the middle of the night it sounded like someone in slippers running alongside the car, the longer term problem would be odd wear on tyres, bearings and joints, and possibly trouble keeping the tyre properly inflated.
I had mine straightened by
Precision-Welding in Northampton, they only straighten wheels they don't do a full refurb paint etc, they were extremely helpful and did do a 'while you wait' service, not sure how they are working at the moment with Covid but click the link and see for yourself.
I have found ebay to be useful in the past for replacing a wheel that was too far gone although you're relying on someone having one to sell and to some extent how good or bad their wheel is (the ones I've had have all been OK but secondhand), if you go to Volvo for one be prepared to open your wallet rather wide.