Try a different rest, had the same problem switched rest and got perfect bullet holes.
As I recall, in another post you said you went from a QAD fall away to a Whisker Biscuit shoot through.
Fall Away rest timing and actuation can be an issue with some bows. I know the AVS system is affected by the cable actuated rests, so switching to a limb activated rest made tuning easier and tighter groups. I had issues with a cable actuated rest on the Z7 Mag, even without fletch contact, I had to fiddle with the timing until I found the ‘sweet spot’ to get a good/consistent paper tear.