There's only one pot, the middle of the things you circled. That's the volume. The right one is a button to start the sound test. Left selects fancy sounds (what you want) or simple tones. All three are safe to play around with, you won't hurt anything

Welcome to the hobby!
Just so you know....you purchased a machine, not a table.

BTW, FLASH is a cool machine.

I picked up the same machine almost 2 months ago and have loved it ever since. My volume knob doesn't work that great. It is all the way down, which is where I want it, but if I try to turn it up at all, it goes to max volume right away.
Any suggestions of how to fix?

With power OFF, turn the volume pot full range, back and forth, several times. The pot is dirty, and turning it several times MAY clean up the windings. More than likely though, you will need to replace the pot. You can also try radio tuner cleaner or potentiometer cleaner, but I have not seen that around for quite awhile.

When the external volume control is bypassed, like it is in flash, the volume pot is extremely touchy, but you should be able to get a reasonable volume level out of it. I think its wired backwards or the schematic is wrong, CCW for louder, don't think I ever swapped that back around on the replacement sound board.

If you can't get a good volume out of it and don't want to solder on the circuit board, add a pot back to the four pin plug with the red wire jumper. If you look at the wiring diagram from a later game with the coin door volume pot you should be able to figure out how to wire it up. Just make a little pot hanging off that plug with a short run of wire.

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Does anyone have a replacement potentiometer recommendation? Looking to replace the exact one the OP circled. I've found some 5K ones (what manual specifies) on the parts sites put they look nothing like this one. They have 3 legs in a straight line. thanks

Did you try an electronics supplier like Newark, Mouser, or Digikey? They will have a lot more choices.

Are you more concerned with physical size/package or exact electrical spec? You have some leeway on the latter.

If it comes down to it, within reason, you can also choose something with a higher overall resistance, because the same "range" of adjustment will be within. Example: a 7,500 ohm pot will have 0-5,000 ohms within a portion of its entire adjustment range, and the extra 2500 ohms sitting on the end will make no difference.

Higher wattage rating would be acceptable and give you better lifespan.

Greater total number of turns will give you easier control.

I don't really care about specs per say as long as it will work. That said the options listed on like marco and plife etc have 3 leg leads in a straight line, I'm pretty sure these originals are 4 leg and more of a box shape

3 legs are enough and what most, if not all of the pots have. The outer legs represent the resistance track, and the center leg is the slider.