Official comment

Bryan,
The Product team has confirmed this is a Change Request. Your change request was logged. ID: CR-279759.
According to the ISO standard the first week of the year must contain the first Thursday of the year. This means you should be using the “first 4-day week” setting. The ISO standard also states the first day of the week is Monday. If you use this standard the Time Reporting Compliance App should reflect this week (July 6 - 13) is week 28. However it reflects week 27.
CR-279759
Bryan,
The Product team has confirmed this is a Change Request. Your change request was logged. ID: CR-279759.
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Bryan,
Sorry for the delayed response. I have brought this to the Product team. They are trying to decide if this should be handled as a Change Request of Bug. I will submit it accordingly and provide you the ID when I have submitted it.