To answer your question, yes. The length of the left bolt arm needs adjusting . . . but, it may be correct!
First thing to do is check bolt spring tension as most of the time it is excessive. Too much tension will mask other problems and cause premature wear/failure. The bolt head should exert about 3 lbs of pressure against the cylinder (or your finger!) You can adjust this by slightly re-contouring/ thinning the bolt spring.
Now, make sure cyl lock-up and full cock notch/sear engagement occur simultaneously. These two events are your 4th click. Check it by dragging a finger on the cyl while slowly cycling the action. If cyl lock-up happens just before the full cock notch is reached, the hand length needs adjusting (shorter). If this is the case, correcting the hand will probably retard the cyl carry-up (rotation) to correct the bolt drop timing. If lock-up happens after full cock is reached, the hand needs to be lengthened (stretched). In this case, you'll need to remove even more arm material since bolt drop will be even later.
If cyl lock-up and full cock check out OK, then the left arm of the bolt needs to be shortened. Where do you remove material from? Two ways to go here. Check the position of the bolt at 1/2 cock. If it is well below the frame surface (water table ) you should remove material from the very rear most vertical surface. This is how you adjust the amount of bolt withdrawal. Excessive withdrawal puts too much un-needed force/movement on the bolt spring causing early failure. By removing material here, you are adjusting withdrawal and drop simultaneously.
If the bolt withdrawal is OK (at or just below the frame water table), then remove material from the horizontal (top) surface of the arm. This will adjust the drop and only the drop.
Sorry for the long explanation but the bolt is the most complicated action part to fit.
If you are going to install a bolt block, do so before you do any adjustments. The movement will be consistent and precise but it will affect the timing .
Mike