When you get the gib out to look at, you may see an obvious problem. Let us know if you do.
If not, it could be more subtle. Perhaps the taper angle is off.
Take a Sharpie to it and color it all in and then reinstall and tighten it. Run the head up and down a few inches and then pull the gib back out. You can see where the Sharpie ink rubbed off which parts fit and which don't. You've very likely going to find most of the ink is still there and there are some high spots.
Another possibility is that the gib needs shimming. It might have reached the end of its travel without engaging properly. There have been some posts you can search for on shimming your gib to take care of it. I'm guessing this isn't the issue since you can get it tighten so it is hard to move the head, but it is something to keep in mind if all else fails.
Cheers,
BW
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