Also have the EMF rossi 92 in .45, when I was using the buckhorn mine was set on the very last notch on the wedge to get the sight down enough for my loads, as I remember there was still tension on the wedge/elevator, and I once took the wedge all the way out and the sight sat on the barrel. So I think maybe there must have been more bend in mine than yours. Not sure, but you might have to drift out the sight to bend it and then put it back in. Seems I remember moving my wedge forward to get the lowest setting and backward to raise it, make sure you have your wedge in there the right way. If you have it on the lowest step the majority of the wedge will be in front of the rear sight sitting in the slot that is cut in the sight body. I think.
I now have an adjustable Marbles tang sight on that EMF, I like that a lot better.