There isn't any release adjustment on the Time RXS pedals.
Straight from the Time RXS Carbon manual:
The RXS TI CARBON, RXS CARBON,
RXS and RXL models feature the
S.E.T. adjustment to personalize your
sensation of float.
Three adjustments are possible, using a
2.5 mm allen wrench.
The adjustment passes automatically
to position 1 if you pass position 3.
RXS pedals as delivered are adjusted to
position 1 (maximum float).