Hi @maranzano!
Your settings are fine, so your problem will be, that our slider has a rule, that a slide’s height is at least as big as the height of your layers, margins and paddings are and your entire slider is as big as the highest slide is:
https://smartslider.helpscoutdocs.com/article/2033-what-affects-the-sliders-size#content
So you should check out your slides, and make sure you don’t have elements and spacings bigger, than 500px.
If you need more help, please send us an export of your slider and we will take a look at it:
https://smartslider3.com/contact-us/support/?topic=Editing&platform=WordPress&slider-export=slider-yes