At the time of your meta posting, one reviewer had voted to reject your suggested edit, but one vote is not sufficient to finalize the rejection.
Your suggested wording for the status is an improvement. I think that this would be more accurate:
1 reviewer has voted on your suggested edit, but up to 3 votes are needed to accept or reject it.
I say "up to 3" because…
- If the first two reviewers agree, then that already constitutes a 2-out-of-3 majority.
- If the original author of the post accepts your suggested edit, then that approval is sufficient.
- A moderator can unilaterally decide to accept or reject your edit.
By the way, your suggested edit was rejected because it was deemed to violate the site rules. Indentation is a valid subject matter to be addressed in an answer, so you shouldn't change it (unless the author obviously had difficulty conveying the code the way it was originally written).