There are three different vertical considerations to make with wind.
One is simply the effect of the wind following the terrain and developing an 'updraft'.(or downdraft) In this case, the wind is deflecting the bullet same as a cross wind, just up or down. You usually don't see much of this if you're shooting over flat ground, more so when shooting over canyons, hill to hill, etc.
The other effect is what's been discussed (the 10 O'clock to 4 O'clock slant of a group). This happens due to a mechanism called aerodynamic jump. When the bullet emerges from the muzzle into a crosswind, it weathervanes into the net airstream, which will be at a slight angle due to the cross-wind. The bullet sees a 3000 fps headwind, and a 15 fps (10 mph) crosswind, so the bullet has to weather-vane less than 1/2 of one degree. As the bullets axis is torqued to realign that slight angle, it reacts with a series of precession cycles, the result of which cause a slight vertical deflection called 'aerodynamic jump' (AJ).
AJ is a fixed angular amount at the muzzle, meaning that if it's 1/2" at 100 yards, it will be 5" at 1000 yards. It's not a parabolic growth like wind drift which might be 1" at 100 but 80" at 1000. This is because horizontal wind deflection acts on the bullet for it's whole flight, while AJ is a lunch effect that's established within 15-20 yards from the muzzle. That's why it's called 'jump'.
One place AJ used to cause problems was for .50 cal waist gunners on WW2 era bombers. They're firing into 100's of mph of crosswind, and depending on which side they were firing from would determine if the jump was up or down. Not a precision shooting application, but high crosswind.
The magnitude of AJ depends on bullet stability, with higher stability producing greater AJ. For a 10 mph crosswind and typical LR rifle, you'll see something like 0.2 MOA of AJ compared to no wind.
In a long range shooting match such as BR or F-class, it's not likely that you'll have to correct for AJ. Assuming you shoot sighters in the prevailing wind, AJ is the same for every shot so if the wind is 15 mph +/-5 mph crosswind (a difficult condition), the worst you'll see on the target is less than a 1/4 MOA click of vertical from AJ. But you could see much bigger vertical effects from actual vertical wind currents, or direction changes (head/tail component).
Usually, if you shoot big vertical in big wind it's due to the vertical wind currents that develop over terrain and the general turbulance of the air, not AJ.
The final way high winds can affect vertical is the head-wind acting to slow the bullet more, and a tail wind acting the other way. These effects are minor compared to crosswind, but if you have a big direction change mid string, it may show up as a few inches of vertical at 1000.
-Bryan