Hey Natalie, I know that you mentioned this before but just check again make sure the Project type under the Format tab is set to 23.97. Have you copied the sequence from another project? Try creating a new sequence in the bin and dropping new material in and seeing how the timecode reader reacts.
The sequence timecode reader cannot be changed as it is dependent on the fps of the sequence and the project settings that sequence was made in.
Also, in your Bin Settings (Hamburger Menu, Bottom left) click on ‘Choose Columns’ and make sure the bin is displaying FPS, do this for your sequence bin and your source material bins to check make sure they are all the correct frame rate
Alternatively, right click on your sequence, go to Modify .> Set format > 24p/23.976p NTSC or 1080p/23.976 1080p/24 depending on if you are working on SD/HD