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There is an internal temperature restriction part.
It sits in the case, just above the valve body.
It's red in color and surrounded by rubber to hold it in place and seal around it.
It's a simple orifice that restricts flow until the oil gets warm.
They come in at least two different orifice sizes, which changed in 1987, in the 928 transmission. (Early 4 speeds had less restriction, as I recall....I'd need to actually look at the two different ones, on the shelf.)
Worth nothing this restrictor only goes in one way....and it is tough to get it in incorrectly.
However, this restrictor will be sensitive to the thickness of the transmission fluid.
Is your fluid thicker than regular old dyno oil Dextron II?
If so, you may want to try the bigger of the two orifices.
Looking better already! I check my ATF when fully warned up but you'll get different opinions about this. I think the WSM wants you to check it when cold.
In my experience is not enough to let it warm up when idling and shifting through the gears while stationary. Drive and check after a few miles and use the quick fill port to make it easy.
On level ground, everything is fully warmed up, gear selector either in P or N.
Fill in ATF slowly, it's easy to overfill. The level markings are located nearby the expansion tank cap.
Yes, you are still way too low on fluid.
Although I can not see markings on your reservoir, there's generally a "cold" mark on the reservoir to get you close to the proper cold level... about midway.
After getting the transmission hot, "top off" so the level is between the "min" and "max" marks, which are very close to the very top of the reservoir.
That view is from the rear of the car. I copied the levels from the front of the tank so I could top off with the quick fill port with the car on the ground so it’s level and not be under the car with the engine running.