Post Horizontal Timeline “Date Meta Field” not ordering posts correctly

In the Horizontal Timeline widget, I have Events which are a custom post type, and they have an ACF “Event Date” field that can be either in the past or in the future. I want to order the Events by the Event Date, because their post dates are not in the correct order.

Despite setting the “Date Meta Field” value to the ACF Event Date field, the posts remain incorrectly ordered by the Post Date.

I have also tried setting the ‘Order By’ option to the ACF Event Date field in the Posts Query section:

The above setting also doesn’t change the ordering of the posts, which still stay ordered by the Post Date.

Can you please assist me in getting this to work?