Yes it does make sense that the heat in the garage would rise up and naturally connvect out but you would also need fresh air to help move it (make up air)

You might want to contact someone like a contactor or even the fire department because that wooden panel might be a fire blocking panel to contain or suffocate a potential fire. Just a thought to consider and it does make sense considering how air tight houses are designed these days. No air, fire doesn't spread so quickly.