Are you referring to the output of the onboard regulator on the PPK? Where exactly are you measuring and how are you supplying the regulator? What voltage are you measuring on the supply of the regulator?
The adjustment of voltage in the power profiler application is only relevant for the onboard regulator and will have no effect on unregulated voltage that is applied at P22. Are you sure that the voltage on P22 is 3.6 V? As I've mentioned, the voltage is unregulated so what you measure at P16 should be the same as what you feed to P22.
