I have a least three routers and the story with the depth adjustment is roughly the same on all of them. There are one or two collars that are threaded around the body of the router and apparently you are supposed to turn them to adjust the depth. There is also some sort of lock or clamp that holds the depth one you set it.
I don't understand why these mechanisms are supposed to be practical. Until the lock is set the bit slides up and down relative to the base and this is heavily influenced by gravity. So it my router was standing straight up with the base supported on something, these collars might make sense. However most of the time when I adjust the depth of cut, I have the router held sideways and am using a square or something else to measure the depth. So the collars are just a nuisance. I simply maneuver the the bit to the right depth and lock it there.
The only reasonable way to use the collars (which I have imagined but not tried) would be like this. You keep a sample of wood with a cut at some know depth. For example for your 1/2 inch rabbiting bit, you have some stock where the depth was set at 1/2 inches. You stand your router up on this stock and let the bit fall to that depth. You adjust the collars so they hold the bit there. Then you use the scale on the collar to go plus or minus the amount that is needed to make the depth of cut that you want.
Do people do things like that? I find the scales on the collars hard to read, especially when there are two collars to worry about . All those scraps of wood to keep track of - one for every bit.