F1's title battle ignited at the British Grand Prix last time out when the pair collided on the opening lap of the grand prix.
The incident will be reviewed ahead of this weekend's Hungarian Grand Prix after Red Bull lodged a petition to go back over the decision-making process that handed what the team believes to be a lenient 10-second penalty to Hamilton.
In the aftermath and whilst in hospital, Verstappen slated Hamilton on social media for being "unsportsmanlike" for his jubilant post-race celebrations.
"They have real tremendous respect from each other," Wurz told Sky Sports.
"I've been in meetings with both of them. I respect them dearly. Sensational drivers, we are witnessing some of the best drivers in motorsport history fighting it out.
"But, of course, the pressure will get to their team bosses, to their managers, to themselves, and therefore there will be or might be some interviews, some exchanges in words, gestures, or whatever which come from the emotion.
"But the bottom line is I guarantee you that each and every racing driver respects the other one, and especially if they are as talented as Max and Lewis."
Crash was a "racing incident"
The crash has split opinion within the paddock as to who was at fault for the coming together, some deeming the collision as a racing incident whilst others have blamed either Verstappen or Hamilton.
Wurz has waded into the argument with his own take whilst revealing the GPDA is looking into consistency of decision making with the FIA.
"The GPDA is sitting down with the FIA and running through many situations, accidents and incidents and helping to have a joint understanding of what is acceptable and not acceptable," added Wurz.
"But, of course, there is the 'racing incident' and in my opinion, this is what happened in Silverstone. These two drivers were racing hard, and they had contact and, in my opinion, it was a racing incident.
"There is always a spectrum of percentage who is more at fault or less at fault, but the bottom line is it's not very clear and therefore it's a racing incident."
Wurz added: "If it is in this grey line territory that's where I personally think the description racing incident is the best one to use."
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