You almost have it right.
1) place pipper on/around target and have jester lock with short context press. Doesn’t have to be exact at this stage
2) once ground is locked, now you place the pipper exactly over your target
3) once over target, hold pickle and you will immediately get the tone. That’s normal. Keep pickle held and do a nice smooth wings level pull. The bombs will automatically release at the right time
Your confusion is in the tone. That is not the tone for when to pull up. The tone sounds as soon as you press and hold the pickle button