WithMagento 2.2.1... the Admin setting "Display Product Options in Block After Info Column isn't working to move the product options (e.g., colour, size, etc.) below the product photo. I've tested this on a fresh installation without any other themes or modules installed. Has anyone else experienced this problem?
You cant do this only Product options block, Because product options block resides under form tag and Form tag is responsible for add to cart data, some of the hidden attributes are kept for save form current selected value and form key and product id.
if you move only product option block below the image info block, Base structure will broken down and native functionality is not working fine.
If you really move to those section you need to keep entire form section below the projects so add to cart is working fine and your add to cart button will also moved withing below the image because form tag contains so many data and html info for add to cart.