I believe the difference you've seen with these 2 loads is due to the much greater recoil of the 158 grain +P load compared to the wadcutter load. When your revolver is aimed at the target, the barrel is actually pointing down; by the time the bullet leaves the barrel, the barrel is pointing up (due to recoil) and the bullet is launched on an upward trajectory. The barrel also twists under recoil, so the position of the barrel in the horizontal plane at the time the bullet exits will be different with different loads. Even though your gun is initially aimed at the target with both loads, it's ending up aimed 4 inches left with the heavier load.
At what distance were these groups fired? The greater the distance, the more pronounced this effect will be. In general, bullets don't have a curved trajectory in the horizontal plane except for wind effects and rotational drift (only significant in long range rifle shooting). Unless they affect the horizontal position of the barrel when the bullet exits, things like bullet length, primer type, powder et cetera won't affect the horizontal position of the bullet on the target at normal handgun distances.