Those compression settings sound a lot to me like what will make a bass sound squished. I can understand those settings on an electric guitar, but not so much on a bass. More on that in a moment.
OP, the link below is a fantastic tutorial on compression that should help you understand what you are trying to achieve with your compressor.
The reason I wouldn’t want a fast attack on a bass compressor is that as notes go down in pitch, their fundamental frequencies are exponentially longer in duration. That is to say, the actual time it takes for the initial strike (attack) of the low note to be produced as an audible sound wave is longer than that of a high note - we’re talking milli/microseconds here. If the compressor clamps down on that waveform before it’s reached it’s peak, it is clamping down on the attack portion of the note. That might be desirable in some situations, a la tube-compression, which happens more slowly (still milliseconds). A common technique with bass compression in the studio, which translates to live use, is to leave the attack portion of the notes alone, and speed up the attack setting of the comp until you hear the attack of the note decrease, then back it off so the notes retain their punch.
Next comes the release setting - you want the compressor to let go of the note before the attack of the following note is struck. So, slow down the release until the second of two notes begins to lose its attack, then back it off. The result is that the compressor breathes with the instrument - the bass is punchy and better defined.
Obviously this is easier in the studio than live because you are able to adjust your settings to a specific tempo, but for live work it’s not a bad idea to keep the attack slow, to allow the lower notes their punch, and the release fast enough for songs with higher tempos.
The low notes also use more energy - the threshold detects them first as they send the most energy through the signal. If you’re just wanting to generally round off the dynamics of your playing, you could set the compressor to a low (1.5/2:1) ratio and low enough threshold to grab all of the notes and thus react somewhat consistently across the fretboard. If you want to tone down your slap/pops, you could set the threshold so there’s no compression while finger styling/picking, then crank the ratio up (4:1-10:1) and adjust the threshold and ratio until those loudest pops sound controlled.
I do agree with the comment made about not being able to hear the compressor acting on the signal. If you can hear it, you can a) slow down the attack, b) speed up the release, c) raise the threshold, d) lower the ratio, or e) any combination of the above. Hope this helps.