3rd gear issues on 727 after Tf2

Sounds to me like the TP is set too high.
First thing to check (like you said)

First round of testing. Shifter was a little off but, I adjusted in the drive and checked all positions. It’s correct. 2nd round I backed off the KD cable. I now have 3rd gear. The concern is I have 1/4 inch slop in the Lokar cable. Not sure what if anything is wrong.