Bumping this topic because it has left the front page and there has been an increase in questions about the update. According to the discord, There has been no additional information given about the 1.7 update release window The information in this post is still accurate. The release window for Starmaker Story 1.7 remains "In August".
Now, what I am about to say is purely speculation on my part and should be treated as such. I have no affiliation with Arvus Games: I am merely a lurker in the Discord. I do not believe the update will be release until the very end of the release window. Arvus very much operates in accordance with Parkinson's Law: "Work expands to fill the available time". Arvus has a passion for creating games and, when he has time before the next deadline, often finds additional content he would like to add, scenes he would want to polish, or teasers for next update he would like to plant. This means Arvus generally uploads Starmaker updates at the very end of the release window. I must stress, this is born from a passion for making games, and it looks like the 1.7 update will be a sizable one. Arvus is spending this extra time making the game even bigger and better. But this does mean Starmaker updates are rarely posted early.
Arvus has, to my knowledge, generally releases Starmaker updates on Sundays. If the Starmaker update is not released tomorrow, I expect it to be released on the 30th-31st. I must stress one last time, I have no affiliation with Arvus Games, this is merely my best guess as to when the 1.7 update will drop.
In the meantime, you can always visit mrdeadpool666's post on alternative games to play while waiting for the update.