Well let's see what the
Splat Calculator says.
Lets go with right around 3 meters to a story (it varies abit by type of building but I like round numbers for ease of math).
Not going to do a second story drop because really you could just hang over the edge and drop the rest of the way easier.
So jumping from the 3rd floor* you land in just over 1 sec while from the 7th floor you would hit in just over 2 seconds and 15th floor you have a whole CT (3 seconds) to enjoy the scenery as you plummet along.
Could you start casting Catfall halfway down?
In the case of the 3rd through 6th floor I probably wouldn't unless the mage was already reaction enhanced, but in the case of 7th - 15th floors I probably would but it would be tight (maybe a reaction roll?), while 15+ you should be able too so long as you are not otherwise distracted.
Regardless however I would still count the
FULL distance of the fall for purposes of the spell as you have the total energy of the fall to disperse.
Remember the spell talks about the maximum distance you can fall safely and for greater distances the spell reduces this distance by the success* F formula.
So say you fall 100 meters and get the spell off while you are still 10 meters from surface, you are reducing the fall distance from the 100, not the 10.
But with successes x Force in meters reduction you can slash that by quite a bit
Edit:
*This is presuming US methods of counting floors, aka ground =1st floor, so this is 2nd floor for any Europeans.