First of all the lag may be due to a weak battery. I find that the battery when weak can't turn the hands before it gives up on the digital part.
However, assuming your batter is okay, there is an explanation here https://www.youtube.com/watch?v=7pMnAMbaW94
Synopsis: When the watch is displaying the time press the bottom right, "Forward," button for 4 seconds. "Sub" should be displayed. Use same "Forward" button to move the tiny, sub-display hand to the "50" (12 o'clock) position by pressing it repeatedly. Press the bottom left "Mode" button then use the "Forward" and top right "back" buttons to move both of the hands on the main display to 12 o'clock so all hands point in the same direction. Then press the "Adjust" button top left and the hands should move to the time the digital time is set to.
Mode PGM 3
Clerks
pick the clerk you want to use
Put you new name in the the description
you might need a number
them ESC all the way out
now Mode REG
job done