So I did some more testing, and although it is recommended to edit the config and .sav files to set the settings, the calculations are drastically different between config and in-game calculations.
OW2 --> Palworld ::::: In-Game --> In-Game
OW2 --> Palworld ::::: In-Game --> Config
Exact same settings for both calculations, with only the In-Game or Config file setting for Palworld changed to compare results. While I don't expect EXACT same numbers between the two ways of changing the settings, one calculating .71 and the other 1.4 is a large difference, and going by the In-Game settings suggested feels closer to how it should. I'm guessing since the In-Game calculation is 2x the config file setting, that there may be a missing or incorrect part of the calculation taking place. (I'm not a math expert or coding expert by any means, idk how all this works, hence why I'm here for my settings in the first place lol. Just my observation on the two numbers produced)
I feel that the recommendation to set settings via the config file over the In-Game settings should be changed for now as it is not producing correct results, at least for my situation.
Changing the FOV with a hex editor should only be suggested if going above 90 since that's the only way it can be set higher right now.
Hope this info helps someone else in my situation!