In my experience over voltage comes from these areas, not necessarily in order:
1: Number ONE is voltage drop in the harness, and next is poor ground between battery NEG and VR case
2: Rare but a bad battery can seemingly cause this
3: The VR itself can be "off" but this is pretty rare. VR seems to either work or not
I would start by checking harness drop which is easy:
Turn key to run, engine off. Get your voltmeter connected as close as you can electrically to the VR blue wire. Usually this is the keyswitch side of the ballast.
Hook your other meter lead to the battery POS. You should read VERY little voltage, and more than .3V means you need to start looking "I would bet" you will find some drop here. If you are having intermittent issues, wiggle the key from off to run and off to run and recheck voltage.........you might see it change the reading!!! each time
GROUND........make this check with engine running, once with loads all turned off, and again with headlights, etc turned on
Stab one probe into the VR case mounting flange, and the other into the NEG battery terminal. You should read almost nothing, and zero would be perfect.
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A DIFFERENT WAY to check and confirm this ALSO will show you if the VR is at proper voltage. With engine warm and battery charged back up and normalized, hook one meter lead to the VR "blue" (keyswitch side of ballast) and the other to battery NEG post.
With engine running, this should read the VR setpoint, which should be 13.8--14.2, and not below 13.5, and not above 14.5
If that is correct, the VR is fine