I found a fix. The default axis assignment is WRONG! For some reason, by default, the thrust levers are mapped to “Throttle 1(2) Axis (0-100%)” instead of “Throttle 1(2) Axis” which does not work correctly.
To fix it, unbind the throttles, and then bind “Throttle 1 Axis” (NOT the 0-100% option) to Joystick L AXIS X (not inverted) and bind “Throttle 2 Axis” to Joystick L AXIS Y (not inverted).
This took me so long to figure out…