The full-back was shown a straight red card in Saturday's enthralling draw at Preston North End after a late challenge on Darnell Fisher.
His dismissal means Iorfa will be unavailable for selection when Wednesday welcome Queens Park Rangers to Hillsborough in their final match of the regular Championship season this weekend.
But Iorfa, signed for a fee thought to be in the region of £200,000 from Wolverhampton Wanderers on January deadline-day, will also sit-out the opening two matches of the 2019/20 campaign.
Bruce told The Star: "The tackle was near me and it looked probably worse than it was.
"From where I was, I could understand why the referee gave it. I suppose it was reckless.
“Dom is a strong, athletic boy and I know there was no malice there.
"I will take a look at it back and decide from there."
While Bruce had no complaints over referee Jeremy Simpson's decision to give Iorfa his marching orders, he believes the ban should not carry into next season.
"It is a ridiculous rule that it carries into next season," said Bruce. "It should be wiped out."
If selected, Barry Bannan will also have to be on his best behaviour when the Owls host struggling QPR. The Scotland international picked up his 14th booking of the season at Deepdale. Should Bannan play and be booked versus QPR, he will miss the first three matches next term.