What does this PR do?

Fixes #14028

Does your PR introduce any breaking changes? If yes, please list them.

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Did you have fun?

Make sure you had fun coding 🙃

cc @carmocca @kaushikb11 @ninginthecloud @rohitgr7 @nbcsm @guotuofeng @awaelchli @borda @akihironitta

any suggestions for the test here?

I am thinking of extending these with profilers since they cover all the cases with hooks. https://github.com/Lightning-AI/lightning/blob/master/tests/tests_pytorch/models/test_hooks.py

Codecov Report

Merging #14069 (708dca5) into master (e53c4e8) will increase coverage by 25%. The diff coverage is 100%.

@@            Coverage Diff            @@
##           master   #14069     +/-   ##
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+ Coverage      51%      76%    +25%     
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  Files         329      329             
  Lines       26640    26687     +47     
=========================================
+ Hits        13657    20277   +6620     
+ Misses      12983     6410   -6573     

Added the missing chlog entry

Why did we include this in the bug-fix release? Technically this just added a feature (profiling)

I included it because it was labelled as 1.7.x and also the linked issue had a bug label. This was evidence enough for me that it is correct and intended. If I'm not sure (for example, when linked issue is not also labelled accordingly), I usually ask (https://github.com/Lightning-AI/lightning/pull/9938#issuecomment-1215369656). It also didn't have the breaking change label at the time I cherry picked it

It was totally unintentional. The hook was missing from the logging FxValidator that enabled logging in this hook. The real intention was just to ensure these hooks are profiled, so I added it as a bug, but logging is part of the trainer._call_lightningmodule_hook.