Olakau'atu was sin-binned four minutes into the Sea Eagles' 32-18 win over the Eels on Friday night, with the Tongan star in early trouble for a lifting tackle on Lane.
Referee Gerard Sutton appeared ready to march the Manly second-rower, before opting to bin Olakau'atu following an extensive review from the bunker.
Olakau'atu initially hit Lane's front, before the momentum continued in the tackle and he and Cherry-Evans flipped the Eels forward over and landed him on his back.
Lane subsequently left the field for a HIA, but was able to return.
Olakau'atu could escape with a fine if handed a grade-one charge, but a grade-two would result in a minimum two-game ban.
A grade-three charge would rule Olakau'atu out for four weeks with an early plea, and halt any push for NSW State of Origin selection.
"I thought it was an accident," Seibold said.
"It wasn't like a typical lifting tackle. He hit him through the stomach, which is a really good tackle. And then Chez was on top.
"He did land in an unfortunate position. But he come back on and played the rest of the game.
"I thought 10 minutes was sufficient for the tackle, so hopefully nothing more comes with that."
Cherry-Evans argued on-field with Sutton that his involvement was a mitigating factor, and that should be considered in any sanction.
"I definitely had a role in the tackle," Cherry-Evans said after.
"It just overcompensated what was happening in the tackle. Ten minutes in the bin was probably fair.
"I'd like to think that's hopefully all and we'll move on."
Any absence of Olakau'atu would come as a significant blow for Manly, given fellow second-rower Ben Trbojevic is set to miss another fortnight with a hamstring injury.
Josh Schuster has been released from the club after initially starting the year as an option in the second row, likely leaving Ethan Bullemor and Brad Parker as options for Seibold.
Olakau'atu has been one of Manly's best this year, laying on an offload for a try on Friday night and busting five tackles.
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