Your bottom screw(s) don’t has to be as long as the top screw. I usually start out hanging with still V-shaped when looked from above and after some more tightening during use, for which I only use the top screw, I end up with the sides almost parallel to each other.
The tightness required for hanging without slipping may need some getting used to. It will feel more comfortable after a couple sessions.
I made a homemade hanger like the AFB with one change. I use a clear vinyl tubing that has white cords running thru it. It is sold in plumbing departments for hooking up dishwashers and stuff. The vinyl tubing is tough but very flexible.. I used a 1 1/4” diameter and cut it in half. The tubing grips the sides and bottom of my penis. I use a hose clamp, screw type, to keep it on. I wrap my penis with a short piece of the self adhesive wrapping and the a 1 foot strip of theraband. I started at 5lbs, and am now at 7 1/2lbs. I also wear a fast size during the day as my ADS. The combination of my FS combined with hanging has really started to accelerate my gains.