Those settings are as they should be. How far have you researched this problem on the web? For example, to get out of the restricted mode takes some timing skill when resetting the TV. As in:
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FIXED!!! What a crappy glitch. My TV had been unusable for almost a year. Finally, we just dedicated a couple hours to trying to reset it and we finally got it! Here's what you do:
Unplug the TV and plug it back in. When it starts up, it will give you a random window of time before going into restricted mode. Sometimes 2 seconds, sometimes 10.
As soon as the home screen comes on, push 'options' on the remote.
Select 'settings' (it is all the way to the right, so we would just hold down the right button u til you get there.
Go down to 'device preference' (four down).
Go all the way to the bottom (holding down works the best) and select 'reset'.
Confirm the reset.
Select 'erase everything'
At this point, it may still say it is entering restricted mode. It did that to us a couple times and we immediately tried again. Finally, when we just let it enter restricted mode right after selecting erase everything and it started the factory reset. I think once you hit erase everything, it will eventually start the erase, you just have to let it think for a minute - even if it goes back into restricted mode. SPEED IS THE KEY! Push those buttons fast, don't give up, and save your damn TV! Ours works great now, but I'm never using restricted mode again. Good luck!
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https://www.reddit.com/r/TVRepair/comments/q01x9u/serious_philips_65pfl5504f7_tv_stuck_in/
https://www.youtube.com/watch?v=6L6Da8Ra7A8