Yes, both knobs are for steering wheel tilt.
The one closer to the dash presets the tilt, the one closer to the steering wheel, with ridges, is a quick release to wheel full up, then pull down to the preset position.

 

Thanks, however what does preset mean in this case

 

One sets the fixed tilt for use while driving, the other releases the wheel to the full-up position for easy in/out of the drivers seat. When you get back in, you just push the wheel down and it locks in the previously set position.

-Charlie

 

I'd like to lock it into staying all the way up. That way I can still use my right foot to brake as I injured my left one. But it doesn't seem to want to do that. Is there a way to get it to do that? Thanks

 

You should never be using your left foot to brake in almost all circumstances anyway, whether hurt or not. It is much less safe than using your right foot. Left foot braking should be reserved for specific performance driving circumstances (race tracks, rally racing, etc.).

Pulling the lower/farther of the two levels should allow you to adjust the wheel to its highest lockable position and have it stay there. It may not be the full max height of the wheel, but it will be close.

-Charlie