No, this low total isn't weather-related. The oddsmaker is just giving too much respect to Wisconsin's defense and not enough to Indiana's offense.
Yes, the Hoosiers lost their star QB, Michael Penix Jr., for the season. But former Utah QB Jack Tuttle is one of the better backup QB's. He's a downfield passer with plenty of high-caliber receiving weapons and an excellent running back, Stevie Scott. The Hoosiers just rushed for 234 yards against Maryland in their last game. 
Wisconsin's offense is much better than it looked against Northwestern two weeks ago. The Badgers were idle last week after their game was cancelled. The extra time is good for their banged-up receiving corps and gives them ample time and motivation to scheme against Indiana, whose defense heavily relies on turnovers. 
Making the Badgers more dangerous than in previous years is the emergence of highly-touted freshman QB Graham Mertz. He could be Wisconsin's best QB since Russell Wilson. 
Weather won't be a problem as the forecast is for a clear day with no wind and temperatures in the 30s.