Mine is doing the same thing. Even when I try to reverse the axis, it doesn’t change anything. The stick works fine in 2020 though. By default it should just work, we shouldn’t have to go in and edit all the bindings.
If you need to reverse the elevator axis then in settings go to your elevator axis and press on the gear icon next to it and in their you can see a set inverted axis switch and you can turn that on.
MSFS 2024 on XBox - Having the same issue with my turtlebeach flight stick. In settings, the option to reverse the axis is greyed out so I am unable to change it. Frustrating.