The power setting should be like this:
Also when wireless keyboard is present enter the following command in a Cmmand Prompt
powercfg/devicequery wake_programmable and see if you see the wireless keyboard as one of the results.
In order to find out which one is the wireless keyboard if you can't tell by the results of the command , open Device Manager and expand Keyboards. You can disconnect/reconnect the keyboard to see which device disappears and determine its name by elimination.
So run the above command and keep CMD window open then disconnect the keyboard and run again and see which one is not present when disconnected.
After you find out the name of the wireless keyboard you can run the command
powercfg /deviceenablewake "Keyboard name" and replace “Keyboard name” with the name of your wireless keyboard as shown when you ran the first command above. Make sure to put the name of the keyboard in double-quotes. By doing that the keyboard should be able to wake the laptop from sleep.
You can give this a try but when system is powered down/asleep there's no power to keyboard and in situations like these you might need a USB hub with its own power sourse. Also keep in mind that apparently some keyboards don't support this functionality.