IMO this sight has standard (for the time) knobs and probably has the standard 1/2-minute clicks. Impossible to tell about the clicks without close examination. I'll try to see if I have some examples of the early target-style knobs for a photo later today. This sight would be proper for an early 1922, but IMO was overpriced by $100-$150 or so.....
A few decades ago Sarco was selling some 48Cs that had their apertures cut down to make a notch, apparently for machine gunnery practice. I have the parts necessary to convert back to the original aperture if anyone needs them.
Regards, Joe