Correct. This is something that could only be established by virtue of pre-certificates recording the commitment to issue, or by the audit logs.
The certificate issued at date {X + 397} would clearly need to comply with the requirements in force at time of issuance.
However, issuing a certificate at date {X} creates the issue that it would need to comply with the requirements at date {X}, which may differ from those at {X+397}. We have seen, as a practical matter, CAs (intentionally or unintentionally) use this to evade requirements/prohibitions that are coming in force (e.g. at {X+1}), by claiming they were issued at date {X}, where it was still OK.
While nominally some of this is mitigated by clients enforcing "complies with the requirements at time of `notBefore`", this only goes so far: obviously, there are procedural requirements which cannot be validated based on the certificate alone.