Low water return flow; high on recirculate

Yes there could be an issue with the multi-position valve (MPV). Suggest you test in several different positions - backwash, recirculate, waste and determine if all functions. It is best to always turn the handle in 1 direction to move between positions - go all clockwise or all counterclockwise.
The alternative is a very clogged up filter. When was the last time it was thoroughly cleaned? What is the pressure of the filter when in filter position?
 
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