The memory controller sends the read to the DIMM that is not refreshing. It is invisible to software, except for the side-effect of having better performance.
Refresh avoidance is a tangential thing the memory controller happens to be able to do in a scheme like that, but you’d really have to be looking at it in a vacuum to bill it as a benefit.
Like I said, it’s all about cache. You’re not going to DRAM if you actually care about performance fluctuations at the scale of refresh stalls.
"IBM z17 implements an enhanced redundant array of independent memory (RAIM) design with the following features: ... Staggered memory refresh: Uses RAIM to mask memory refresh latency."