IMHO that trim tab should have more adjustment than 3/16". That little amount of adjustment will make nearly Zero difference.
I would check the part number you ordered to see if it is the correct part for your model of motor. The one that was on it when purchased might not have been the correct one.
It might help to post pictures taken at different angles of the motor on the boat so some one might pick up on another problem.
Also post the model number of the motor and the part # of the trim tab you have.
Some one on here might look it up for you
Just a another thought is have you checked the hull of the boat for damage?