@ChrisG What tpw_rules was suggesting I believe was to input the 1Vrms 100+kHz input into the VAC mode (instead of LowZ), and then manually select 1000V range. And thus see if the same wrong readings were displayed as in LowZ.
Well I just did that, and got some interesting - but not consistent - results.
With 2.8Vpp (~1Vrms) sine at 300kHz:
LowZ AV 1000V range read 161V - consistent
VAC auto range (5V) read 1.63V 299.9kHz - once only, see below - otherwise ~1V 299.9kHz
VAC 5V range read 1.63V 299.9kHz - once only, see below - otherwise ~1V 299.9kHz
VAC 50V range read 12.6V 299.8kHz - once only, see below - otherwise 0V 0Hz
VAC 500V range read 149.2V 299.8kHz - once only, see below - otherwise 0V 0Hz
VAC 1000V range read 149.3V 299.8kHz - once only, see below - otherwise 0V 0Hz
I actually tried going through these VAC ranges (and back and forth to LowZ) several times. The first time gave the 0V 0Hz on the AC 50V ranges and above (can't recall the 5V range reading). The second time the above high readings. And all subsequent times back to the 1V or 0V.
Then tried 1kHz and 10kHz inputs, and got slightly low readings in the higher ranges (1V in 5V range dropping down to 0.6-0.7V in 1000V range), but also interesting was that it couldn't display the frequency any more in the 50V and higher ranges. It then just showed 0Hz. The meter is specified to 5kHz in the VAC mode, but I guess in those manual ranges the attenuation is too high for the frequency measurement. But how does it "work" then in LowZ mode (i.e. measures correct frequency, but incorrect voltage) if also using the 1000V range attenuation?
I tried several things including increasing my output to 5Vpp and I couldn't get those strange readings again. The fact it happened once does point to tpw_rules theory about the whacky adjustment for frequency being potentially correct. Or I could have been hit with the rotary switch wobble issue that one time. Or maybe there is a specific sequence needed to reproduce...
While doing this I noticed another strange reading on AC mV manual ranges too. Same 2.8Vpp 300kHz sine wave. On 50mV range it read 23.0mV, and on 500mV range OFL.
At 10kHz both showed OFL. Limited bandwidth coming to play here I guess - way beyond the 5kHz spec, and not as worrying as the weird LowZ readings.