Wind speed profile above 10 meters are not constant. Normally wind speeds are measured at 10 meter reference height. This value is extrapolated to heights above 10 meters. Empirical relation between reference wind speed, surface resistance and heights, you can easily find in related texts or research papers.
As far as I know, the wind speed at the height of 10 meters above the ground (together with the roughness length) are used to calculate the geostrophic wind. in other words, using these two value the wind profile in 1D model (up to 2500m) is calculated. and, as you said, this value not further used after initialization.