Thanks I figured it out myself using trial and error. So I started back at square 1 with a blank PowerPoint and only added this 1 bullet and it worked. So then I started adding other items from my original template...
I figured out that the bullet in my original template was inside of a shape, not a text box. So apparently plumsail will create 1 slide per bullet item if the bullet is inside a shape instead of text field.
So... I spoke too soon. I thought I had it working, but once I put my template back together it isn't working again. Attaching the most basic of templates that doesn't work.
My flow is working, but here is the steps if you are interested.