The incorrect code event is sent by the lock. How often it’s sent depends on the lock make/model.
For examples Schlage has it fixed once every 4-5 incorrect codes (depending on the model). For Yale you can configure it in the device preference page (gear icon).
The events are displayed on the Recently tab of the device page on your ST mobile app. If you’re using the Lock User Management SmartApp then the app will also notify you when the event is received from the lock.