The France international was dismissed in the 13th minute after catching Micky van de Ven with a studs-up challenge while contesting a loose ball.
Referee Michael Oliver initially issued a yellow card but upgraded his decision following a VAR review.
Palace insist the challenge was accidental, arguing that Mateta was focused on the ball and unaware of Van de Ven's approach.
Goals from Archie Gray and Jan Paul van Hecke condemned the 10-man Eagles to another defeat, leaving them in the relegation zone.
The potential three-match suspension represents another setback for under-pressure manager Pierre Sage, particularly with Jorgen Strand Larsen injured.
If the appeal fails, Mateta will miss Sunday's home encounter against Liverpool and subsequent league fixtures against Coventry City and Hull City, leaving Eddie Nketiah as Palace's only available striker.