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How much longer is ‘revisit later’? How do you feel about the company overall? I have seen people that are told to wait, and it never comes, then people that do wait and it actually works out. Doesn’t hurt to think over both possibilities. Right now there is a lot of hesitation too with the economy.
If it’s a government job, it’s a standard raise and I wouldn’t regard it as a negative outcome. I would recommend getting clarification on “revisit later”. If your manager isn’t scheduling regular meetings, you should, at least monthly. That way you can outline and document your accomplishments and have quarterly 2-way conversations of progress.