Images seem to have plenty of overlap, but don't align well at all. What am I missing?

Hi Lincoln_RG,
this is quite strange issue.
Firstly, can you try Make it like a clean install (open RC with pushed SHIFT and then choose the option Make it like a clean install).
The original settings should be sufficient for most datasets. Are all your images georeferenced? Have you used one drone for capturing? What coordinate system do you have set as Project CS? After image import are the images on the correct position in the Map view?