I had trouble finding 300.347(a)(7), as well. But Section 1414 Part B (d) of the IDEA is alive and well and has similar language. It does not specifically state "at least as often as parents are informed of their nondisabled children's progress," but leaves it to the team to describe in the IEP document when reports on progress will be provided and gives the example of concurring with the issuance of report cards. Since the IEP states the first one will be provided in June, the school is in compliance.
Here is my advice from a practical (not legal) standpoint. Depending on what date in February the IEP was implemented, there may not be a lot of data to provide. Often progress monitoring reports that cover only a portion of a quarter say something to the effect of "IEP just implemented on such and such a date, no data available."
However, depending on the disability and goals, there very well could be some data available for the month of March (and maybe some in February depending on implementation date). Even though the IEP states the first progress monitoring will be provided in June, nothing keeps you from reaching out to the case manager and asking for some data points now (say something like you don't want to wait until school is out to see if progress is being made, even though you do understand that it hasn't been implemented for that long). Don't throw any law at them just yet. See if they will respond to a friendly email first.
If they refuse, you could ask for an amendment to the IEP that progress monitoring will be provided concurrent with grade cards starting with the end of third quarter of school year 2024-2025. They could make this amendment without or with a meeting. But if they were unwilling to voluntarily provide some data points (your first step), it is unlikely the team will agree to amend the IEP, in which case you're probably stuck.
I don't know what the disability or goals are, but in general, I would say this isn't a battle to take on. You will likely have other more important battles to fight in the future. But it doesn't hurt and isn't unreasonable to ask for some informal data now.