In order to figure out your software settings, we need to know what hardware you have.
Do you have a VHS Tapedeck? If so, what kind of outputs does it have: I.E. componant out (yellow cord) composite out (blue, green, and red cords)?
Does your computer have any video inputs or have a capture card? Does it have a Firewire input?
Do you have any go/between capturing hardware such as https://www4.shopping.com/xPP-input_adapters–component_video_in-17884_usb_2_0-video_input
Or did you mean you already got your VHS tape captured onto your hard drive and you want to know what project settings to use?