To add to the issues that need verification is the positioning of that bleed valve on the inlet side of the filter tower.
If you intended to use it to drain the filter shell down when replacing the cartridge it wont work as the non return valve it's on the wrong side of the N/R seal.
Further if you intended to use it to drain any accumulated water droplets that gather at the bottom of the filter tower to avoid wasting the molecular sieve chemical again it wont work for the same reason given above
But as it looks like a drain has already been fitted from the photo it also looks like it's a stainless knurled knob into the soft aluminium filter base and that wont last more than a couple of hundred turns before it wears out the fine alumnium female thread on the tower and you end up scrapping it. All in all its a poor design of a filter tower IMHO and in addition it looks like its finished in a clear cheap decorative anodize.
It's my understanding that the filter tower should not see any droplets as long as I purge the 1st and 2nd stage often. I would only use the knob to release pressure from the tower in order to change the filter...so every ~ 16,000-20,000 cf or so. (edit: once every 50 hours or so).