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Hi, yes I've just used the standard settings and it works fine for a Ender 5 pro. The sensor is near the extruder between nozzle and extruder.
The explanation is pretty good here https://github.com/maocypher/Octoprint-Smart-Filament-Sensor. I've solded a connection wire with 3 single wires and the necessary 3 pin plug. And used BCM board pin 24 a 3,3V pin a the ground pin. I can add some pictures if like. Did you messured the voltage? It should be between 3,25-3,35V