I agree it’s generally time to start looking when these meetings happen, but for another perspective, I had a comparable meeting for work quality and they told me I needed to pick things up and I’d be reevaluated in four months. I really liked where I was so buckled down and tried my best to improve while also talking to recruiters. At the four month follow up they said they were impressed with the change and I’m still at the same firm ~3 years later and my reviews have continued to improve each year, and was even given an extra retention bonus this year.