Sharepoint Columns Choices not saving or carrying to other folders

2 part issue here:

1. I have added the "Tags" or "Label" column to my SharePoint library, and edited the column to offer "choices" of the tag for users to organize their library including color and name tagging. However, I have tried several times to SAVE these settings but instead they are immediately erased as if never there...?

2. Once getting the column to save, how do I get it to force all folders in the library to require the same?

FYI I have this set up on a different Teams library within our organization so it is working somewhere, just wondering why it won't work the same way in my master library?

Thanks!