Well, the screws were definitely over torqued, but it didn’t fix the issue. I tried multiple methods to get one of the screws out but had to use a grinder and a flathead screwdriver to get it out.
I think I may have an Idea what is causing the issue after looking at the gears after your advice.
Since the clanky movement really only happens in one direction when the saw is on its side I figured it had something to do with the direction of the pressure being applied by the screw mechanism.
When I put the table saw completely upside down and then tried to move the blade up and down it was very smooth.
This led me to think that there might be some movement in the gears based on the pressure that’s being applied. Watch this video to see what I’m talking about and you’ll see a gap that closes when I go in one direction and opens back up in the other.
You can see the movement of the gear at about the 1:04 mark in the video.