Do you have the specs on the wood stove?
That will list clearances
My last house had normal sheetrock over the stove
I think the issue would be if the wood stove was raised up really tall & there was onky maybe 24" clearance above the stove
For most stoves at/near floor level I do not think normal sheetrock is a problem
Most stoves require at least thirty inches of clearance to combustible walls, furniture, etc.
With heat shields on the stove this distance can be reduced
Stove at my last house I bricked around the area
It had a passive heating wall behind the brick
As the wall heated up cooler air would be drawn from under the stove platform & up behind the stove between the brick wall & cement board wall
Then out vents at the top of the brick wall