This is not a bottom bracket or chainline issue. Your small ring clears the chain stay and that’s the most important functional consideration.

My best guess is either the arm is bent or the chainring is wrong-or at least incorrectly mounted. On the 7400 crankset sitting in front of me, there is 7.5 mm of clearance between the face of the big ring and the inside of the crank arm. The chain peg hidden behind the crank arm is maybe 2mm from resting on the inside of the crank arm. At full extension, there is 4-5mm of clearance between the outer cage and the inside of the crank arm.

Your arm/big ring assembly appears to have MUCH less clearance than that.

Is the outer ring a DA SG series part, or at least a Shimano ring? What is the size? While that series of FD is the ‘slanted travel’ design (the cage travels both forward and outward when shifting to the big ring) instead of the DA ‘straight travel’ design, it should still work. Just not enough clearance, Clarence.