The LOTR trilogy don't deal with this detail. Even the earliest flashback at the start of the first movie only deals with the end of the Second Age, which is the war against Sauron after all the rings have been forged and handed out, the One Ring is created, etc. I would expect that it is where this series intends to end up (not the season but the whole series).
It's true that things may be out of order a bit but I don't know how specific Tolkien was about the details of the forging. I don't know if it matters which rings were forged first, as long as all the rings are handed out before Sauron forges the One Ring, and that he doesn't know about (or, all about) the three Elven rings so the elves are warned of what's happening when the One Ring is used.