Urban air mobility (UAM) is a transformative mode of air transportation system technology that is targeted to carry passengers and goods in and around urban areas using electric vertical take-off and landing (eVTOL) aircraft. UAM operations are intended to be conducted in low altitudes where microscale turbulent wind flow conditions are prevalent. This introduces flight testing, certification, and operational complexities. To tackle these issues, the UAM industry, aviation authorities, and research communities across the world have provided prescriptive ways, such as the implementation of dynamic weather corridors for safe operation, classification of atmospheric disturbance levels for certification, etc., within the proposed concepts of operation (ConOps), certification standards, and guidelines. However, a notable hindrance to the efficacy of these solutions lies in the scarcity of operational UAM and observational wind data in urban environments. One way to address this deficiency in data is via microscale wind modelling, which has been long established in the context of studying atmospheric dynamics, weather forecasting, turbine blade load estimation, etc. Thus, this paper aims to provide a critical literature review of a variety of wind flow estimation and forecasting techniques that can be and have been utilized by the UAM community. Furthermore, a compare-and-contrast study of the commonly used wind flow models employed within the wind engineering and atmospheric science domain is furnished along with an overview of the urban wind flow conditions.