Here's the corrected sentence:
The note from the band director read Tim has great potential; however, lack of practice slows his progress toward mastery.
Here's why:
* Semicolons are used to join two independent clauses (complete sentences) that are closely related in meaning.
* "However" is a conjunctive adverb that introduces a contrasting idea. It requires a semicolon before it when it joins two independent clauses.
Without the semicolon, the sentence is grammatically incorrect because it creates a run-on sentence.