Six minutes into the game, Oli Greaves slotted the ball past James Aspinall from a corner, after the goalkeeper denied the striker on the attack that led to the set-piece.
Lewis Doyle went close with a 20 yard curling effort soon after, with United's goalkeeper saving well.
A mix-up at the back for the Whites allowed Conor Washington to step past his man and find the back of the net with his left foot.
It became three on the half hour mark, as Greaves cut inside from the right flank and score his second of the game.
Wanderers began the second half better, with a lot more possession in the early goings but still struggling to create clear cut chances.
Again, Doyle went close with a shot that narrowly went past the Blades' post.
However with 17 minutes to go in the second period, Sheffield found their fourth through Reece York.
Sam Ackroyd managed to set up York, who dispatched the ball past Aspinall inot the goal.
Wanderers U23s: Aspinall, Hartshorne, Brockbank, Zouma, Boon (Darcy 45), Earing Jones 60), Broughton, Doyle, Navarro (White 45), Tanimowo, Hall.
Unused substitutes: Duke-McKenna, B.Williams.