Hi ECR
There's a sensor in the key which interacts with the immobiliser, but certainly later ones have no reset or adjustment. The receiver will probably be a collar around the ignition switch, visible if you remove the column shroud, but might also be a wire ariel, so check that this is located close to the ignition switch.
There should be a bleed nipple somewhere - it might be on the bellhousing if the slave cylinder is internal. The soft first push sounds a bit like a failing master cylinder.
