My wife is 5'5 and has an 84 WS that is 21"/53.5cm and it fits, but is slightly bigger than perfect. That will probably be a perfect size for your wife. Its a solid town and trail bike.
Check the crank- is it Sugino or SR? 84s had a Sugino and the 85s had an SR.
It may be an 85 color with 84 components(I think everything else was basically the same between years) or it may be an 85 that was just made at the end of 84.