Solskjaer's side travel to Molineux to face Wolves on Saturday evening, with a place in the last four up for grabs as the Norwegian seeks the first trophy of his Old Trafford reign.
"But they've turned it around completely now, they're a different club at the moment".
"We have a really good relationship with Manchester United".
United have been boosted by the return of Ander Herrera as the Spaniard is expected to be named in the squad after taking part in full training this week following a hamstring injury.
Mason Greenwood will be assessed after illness ahead of an FA Cup tie that Ashley Young is suspended for.
Already, the duo of Jesse Lingard and Juan Mata will be back in action after the worldwide break, but Sanchez is unlikely to return until April. "He's not been on grass yet".
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Alexis Sanchez is out with a knee injury and Solskjaer said the forward was seeking treatment in Barcelona and "still a few weeks away" from returning to fitness. So yes, we can go all the way but you've got to be lucky and good along the way.
"Yeah, I hope so", the caretaker boss said.
"You can never be 100 percent sure, but Alexis is such a determined lad..."
And Solskjaer admits that he sees some parallels between the club's 1999 treble-winning campaign and the current challenge as United make a tilt for the Champions League, FA Cup and a top-four Premier League finish.
"We beat Liverpool, we beat Chelsea, we beat Arsenal back then [in 1999], and you think "We deserve a little bit of luck in the draw next time" but Wolves away, what a hard game that can be". "To win trophies you've got to win at least one or two really tough games that are like defining moments", said the Treble victor. Everything has been going well but then again football kicks you in the teeth sometimes and it's always the next day.
"It's so unusual, the Arsenal one".