The former England international, 43, is among a number of candidates the club have spoken to about the post.
However, no announcement on who will take over is expected until late in the weekend or early next week.
Lampard has been out of management since his 18-month spell in charge of Chelsea ended with the sack last January.
Farke was dismissed after a victory over Brentford last Saturday, which was the club's first league win of the campaign.
The club's players will return to training on Friday, with head of football development Steve Weaver taking the session.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!