The final decision of the Canadian Olympic Committee and Canada Soccer's appeal to the Court of Arbitration for Sport (Cas) is expected at about 11:00 BST on Wednesday.
A Cas statement on Monday said Canada seek a decision "either cancelling or reducing the points deduction".
Canada Soccer said the appeal was based on "the disproportionality of the sanction".
The governing body added that it believes the points deduction "unfairly punishes the athletes for actions they had no part in and goes far beyond restoring fairness to the match against New Zealand".
Canada are third in Group A, on zero points following the deduction, but victory over Colombia in their final group game would secure qualification for the quarter-finals.
Fifa fined the Canadian Soccer Association (CSA) £175,720 and banned the England-born coach - who had already been removed as Olympic head coach - on Saturday.
Flying a drone over New Zealand's training was a "violation" of Fifa's principles, football's governing body said.
CSA officials Joseph Lombardi and Jasmine Mander have also been suspended by Fifa for a year.
Canada, led by assistant coach Andy Spence in Priestman's absence, beat New Zealand and hosts France in their opening two games in Group A.
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