The Adjuster on the lower Fork-Leg is basically just a "Bypass" Orifice. The Adjuster uses a tapered Pin to close, or open, or partially-close the bypass channel to adjust "COMPRESSION" damping levels.
It is not physically connected in any way to the Damping-Rod assembly.
You will need a Damper-Rod tool if you are removing the "Spring-Seat" Cap off the top of the Damper-Rod assembly to get to the "REBOUND" Valve.
I did not have one, and nobody had one in stock locally when I needed one, so I made my own from an old aluminum Jack-Handle that I was no longer using.
This Tool is also technically required (or it helps to have this) to remove the Damper-Rod assembly from the lower Fork-Leg, by removing the allen-head Bolt at the bottom (the one with the Copper-Washer), and also for reassembly it helps.
You will definitely need a way to hold the Damper-Rod assembly securely enough to get either the Top-Cap off, or the lower Compression-Valve assembly undone.
this is the "Proper" tool. You use it in a Vice to clamp the Damper-Rod assembly.
A regular open-end wrench or adjustable wrench is used to unscrew the "Compression" Valve from the bottom of the Damper-Rod assembly.
There is Threadlock on these from the factory. Some people have used heat to loosen this before disassembly, but I did not need to use heat on mine when I removed them.
I'm not familiar with how the Racetech Valves come, as I used Penske ones.
The Mount-assembly shown for the Compression-Valve is aluminum, and the nut that holds the Valve to the Mount is "Staked" in place.
You will need to file the staked part flush with the Nut first before removing that Nut.
Failure to do this step may result in you just twisting the shaft off and breaking the Mount piece. DO NOT skip this step!
Once you have everything apart, make sure to take a picture of all the parts, so as to reassemble everything back the way it goes when finished.
Use some threadlock on that Nut when you put it back together.