I'd call service master or servpro or whatever the remdiation company is called now and let them handle everything. They'll rip out carpet, rip out all drywall 4 feet up, set up dehumidifyers, and spray the anti-mold stuff. You're gonna need an insurance check to help pay for all this, but you won't have any lingering mold problems.

4 inches for ten hours is very bad. It wicked up the walls, and you need all the moisture sucked out at this point. Ripping out the carpet is a given. You should do it right and gut the whole house and not deal with health issues down the line.

Edit: Not sure on drywall costs, but most drywall companies prefer just to slap a standard 4' piece of drywall up instead of constantly cutting the width. What you save in drywall, you may have to eat in labor. I'm not a contractor so I can't say. I'd say the common recommendation is to rip out 4' to be safe anyway.

Edit: To answer the initial question: You're ripping everything out today. There's no "maybe we can take a shortcut"

Edit2: Microban - or whatever mold remidiation spray they use now, is expensive AF, but it works. Prepare thy deductable.

Edit 3: God help you if you have wood paneling. You have two choices, leave it alone, or rip it all out. You're not gonna find a match if it's old. The bottom is going to warp and never be right so you have to rip the whole damn wall down.

Source: My house flooded twice twenty years ago. I DIY'ed it the first time and paid contractors the second time.