So I decided to do a little experiment..... to prove the magnetic float and sender unit do actually work the way they should. Maybe this will also help the OP and others troubleshoot an issue with the propane tank readings.
I took my sender, which was reading about 1/2 on the gauge and about 60% on my Firefly display and rotated it about 45 degrees.
As you can see from the pictures it went to about 3/4 full, which is what I would have expected given its magnetic. My Firefly display read 100%. I wasn’t too surprised because I noticed it read full a long time and until the gauge visually dropped below 3/4 on the gauge.
To me it looks like the sender can only be installed one way (or perhaps 180 degrees in the other direction). I didn’t want to force it since there are plastic tabs that hold it in place. It seems to just want to go easier in the original position.
Based on my experiment, the gauge / sender should be installed with the Full mark being at 3 o’clock on a horizontal tank and there is no adjustment that can be made. I would also say the most accurate reading is probably on the gauge itself.... but I can’t confirm that to be true.
All that being said, this would be a good way to verify the electrical sending unit is sending the proper signal back to the inside display panel with the propane level reading.