First of all, in the "Ballroom Technique" of the ISTD (former: Alex Moore) the nrs of the steps are different, but I'll treat them as you counted, because for better clarity they are often taught that way (correct numbering would be: your 1st step is the last step of a preceeding figure, e.g. a feather finish / feather step, which is described with 4 steps, the Three Step then starts at your 2nd step, counted QQS, with the last step beeing identical to the first step of the next figure.)
But let's stay at your counting of SQQ. Generally we have to distinguish between a continuous rise as used in Slow Waltz to create maximum swing, that is denoted by "commence to rise e/o 1, continue to rise on 2 and 3 ..." - this is done e.g. at the basic turns in Waltz, "Natural Turn", "Reverse Turn". Then there are figures with a faster rise as e.g. Natural Turn in Quickstep. There we say "rise e/o 1, up on 2, up on 3 ..." which means, the rise is not that continuous as in Waltz, where you swing higher and higher, but you nearly reach full height (which is less than full height in Waltz) already on 2.
Now our Three Step: "rise e/o first Q" means doing it Quickstep like, with one difference: you are doing it FASTER because it's done from a Q and you stay up for a very little time, the 2nd Q which already has a lowering at its end. At last I would say, it's a "middle height" (remember: highest point of all ballroom figures is step 3 of Waltz's Nat./Reverse Turn.) And you have to take into consideration that the lady's rise is restricted by "No Foot Rise". "Middle rise" because there are figures with less rise, e.g. man's Wing, or 4-6 of the Rev. Turn in Viennese Waltz (and of cause there are figures with no rise, e.g. 4-6 of Hesitation Change ...)