Yes, riding on 2 wheels with a steering is very wrong, but on a sim, its better that trying to understand the counter steering physics of a real bike if you have never rode before, or getting those physics correct in sim.
To start, I adjusted the steering for the TSR500.
In the 'steering' settings, reduce the amount of movement in your wheel, with front max lock at 10% so the wheel is 45 degrees lock to lock. I left parallel steering at 0%.
Under Controls, I went with:
Wheel turn: 90%
Wheel turn compensation: 0
Force Strength: 100+ (this was important for me to feel the bike and its handling)
But the biggest thing was how and where I was looking going through the corners. Most other bike sims would tilt your view so your eyes stay flat with the horizon, and although they thought this was how the sim needed to be setup, I disagree and usually turn this feature off. It feels funny, but you have to tilt your head through the corners, like a dog being asked if its wants a cookie. Still feels funny but works well.
If anyone is having more success with their setups, please share. This is just what Ive come up with after about an hour of testing.