Directional bump steer (L or R) on an IFS would only occur when only one tire catches a bump or rut, correct? Otherwise it would only result in a toe in or toe out equally with both tires.
no, that won't cause bump steer on IFS. ( at least not unless the bump encountered with a singular tire is significant enough to make the tire turn. the steering tie rod design should compensate for the up/down motion on an IFS suspension and not be impacted. higher travel designs tend to use a heim to provide for more wheel travel.) It can on an i-beam suspension though. On IFS, The rack should exert enough force to not cause the other tire to change direction
As stated above by another poster, If the angle of the tie rod from rack to the spindle is too steep, you will experience what "feels" like bump steer.
The reason that I would start with lowering the preload is that the suspension is most likely close to full droop with the preload ratcheted that high. The effective spring rate will be overly stiff.
going over a bump will be quite stiff and with the angle of the tie rod due to the excessive preload, you'll feel bump steer because the rebound force from the over-preloaded spring will cause EVERYTHING to feel quite jarring being that a lot of additional force would be needed to actually compress the suspension. ( which would soak up the bump if adjusted to be within spec. )
The stiffness of the suspension will also lead to feeling every loose tolerance in the entirety of the front suspension/steering systems.