my car was like that when I first got it. Turns out the bracket on the trans pan was tweaked about 2 degrees. It was amazing just how little it took to keep the shifter from being able to stay in low.
Installing the cable is a balancing act and there is a fixed order of operations.
First you have to take the steering column rod out of the loop. Make the shifter-to-trans adjustment perfect. Then make the column ring in sync with the trans (VERY important if you have a dammed antitheft chip). Once those two are set right, then make the reverse lights light at the right time. Also, for an adjustable chip, and so the car will start, make sure the ring fully indicates 'park' when put in park.