The meter will appear within MT 2K23 a few seconds of pressing the button, you'll get an extra few milliseconds for timing your release but if it seems like you're never getting your shots right, you might want extremely Late or somewhere else in the middle. The best way to figure out which method works best for you is to play with your favorite players in 2KU.
As a default, your Defensive Assist Strength will be set at 50 on the Controller Settings. This feature attempts to predict the direction of the opponent that you are guarding, but we're not convinced that it's too agresiv at times. You can disable it completely if you are confident in your abilities with the sticks, but we'd suggest allowing it to be on a little bit so that you'll have an element of magnetism to keep you one step ahead of the competition. Take your time in 2KU to figure out what is most effective for you, but personally we believe around 25 is a good point.
There's nothing more annoying in NBA 2K23 than seeing a player with a wide open space and accidentally throwing in the direction of the incorrect person. In Controller Settings, you can adjust your Pass Target Profile. It is based on a trio of different parameters: Pass Target Direction, Pass Target Distance, and Buy 2K MT Pass Target openness.