I don’t have the 2024 DMG, but in 5e2014, a wand doesn’t produce a magical effect on its own, it allows the wielded to cast a spell using a charge instead of a spell slot. Since you’re casting the spell from t he wand, counterspell should work.
But as I said, I don’t have the new DMG (or a D&D beyond subscription) to verify.
[edit] It seems not all wands are the same, but counterspell can effectively counter a spell cast from an item such as a wand (like a wand of magic missile), but not a specific effect that isn't a spell produced by the item (like a wand of pyrotechnics)