Irontongue's question is perfectly reasonable, and I respectfully disagree with most of GregT's comments.
Five to ten years is long term storage. 80% of all wine sold in the United States is consumed within 48 hours of purchase.
It's unlikely that plastic wrap outside the bottle would have any effect, good or bad, on the quality of the wine inside the bottle, as long as the plastic wrap is clean and dry when applied, and of a type that is approved for contact with food and beverages.
Wine collectors and traders commonly wrap their high end bottles with plastic wrap (Saran Wrap etc...) to protect the labels from scrapes and scuff marks that could significantly reduce the resale value. I don't know of any downside to wrapping bottles in clear plastic, or keeping them wrapped long term. For example, I've never seen the Saran Wrap stick to the label and cause any damage.
I don't know if plastic wrap would prevent mold or mildew from forming on the label, but at least it would keep the label physically together with the bottle should the glue disintegrate over time.
Sharpie ink, paint, and other extraneous markings would likely reduce the resale value and I don't recommend their routine use.
Wine should be stored long term in a cool, dark, humid, undisturbed environment. Most wine enthusiasts know that a little mold or mildew on an old bottle is not a bad thing, but a sign of proper wine storage.