Gerrard has enjoyed a strong start to life at Ibrox, leading his side on a 12-match unbeaten run prior to their Old Firm defeat to Celtic.
And that stretch of games included eight Europa League matches as Rangers secured their place in the group stage of this season’s competition.
Gerrard’s men have been pitted against Rapid Vienna, Spartak Moscow and Villarreal in Group G.
And the Rangers gaffer has had to name a squad for the set of fixtures which begin with a trip to Spain next Thursday.
Wallace and Rossiter have both been left off the list of 23 senior players submitted to UEFA.
And Gerrard has now revealed why the left-back and central midfielder have been omitted.
“They are coming off the back of playing very little football so it makes no sense to congest their game plan,” Gerrard said.
“There is no way Lee Wallace or Jordan Rossiter would be able to play Saturday-Thursday-Sunday for example.
“We want to help those players and try and find a schedule that suits those two at the moment.
“I think for the short-term, that will be one game a week at the minute.”
Wallace and Rossiter have made a solitary substitute appearance between them in the Scottish Premiership this season.
While Lassana Coulibaly has suffered with a hamstring injury and played just twice.
Gerrard says the Mali international is in contention to feature against Dundee on Saturday though.
“We are a bit mixed at the moment as we have had a couple of injuries off the back of international duty, but we also have some good news to report as well,” Gerrard added.
“Lassana is back, fit and available, and he will be involved in the 18 tomorrow.
“We are really pleased to have him back as we have missed him a lot, so that is good news.”
However, Gerrard says the prognosis for Ryan Jack and Gareth McAuley is not so positive.
“Unfortunately, on the first day of coming back, Ryan Jack has got a calf problem, which we are assessing as we speak, while Gareth McAuley has returned with a calf problem from Northern Ireland duty, which is a bit of a blow for us, but we will get on with it,” Gerrard said.
Rangers sit seventh in the Premiership ahead of Dundee’s visit to Ibrox.
But they can jump up to third if they beat Neil McCann’s men and results elsewhere go their way.