The ground terminal is the basic thing, measure power from that to a voltage source. You need to measure from the ground, and either the battery or the ground terminal should be virtually the same. Don't worry about an insignificant difference like that .02 volts.
Measure from ground to the reference terminal, it shows 5v, great, check. Then measure from ground to the signal terminal, which is the output from the TPS, the altered 5v converted into 1-5 volts going out, to the PCM. That's the one you want to see close to 1.0 volts at idle. Then as the TB is opened, that one signal is all that matters, it should rise smoothly to 4.5 volts or so. If you don't get the output near to the 1-5 volt range, then you think why.
If you don't have that, please check the TPS alone, without it connected to the wiring harness. Isolate the issue, which means get the PCM and all wiring out of the possibility. With just the three terminals exposed at its connector, apply a ground wire directly to the battery or a convenient ground screw etc. Then jump a 5v power source from a known engine harness wire, with the ignition on there are many of them. The TPS wire will do, if you suspect that, use an injector wire, just some wire to pull a 5v signal from, just to test the TPS for a brief few moments. Ignition off, use a wire to jump from a known 5v terminal, to the TPS reference(input) terminal. That then leaves just the output terminal, the signal you want to test. With a volt meter connected to that signal terminal, turn the ignition on, and watch the voltmeter as you gently open the throttle blade. If that doesn't show close to 1.0v at idle, and run to 4.5v or so, then the TPS is bad, or not installed properly.
There is very little TPS adjustment, just the play of the holes that you can twist the TPS one way or the other.