Hi @bobshehan,
I hope you are well today and thank you for your questions.
Well, I unchecked and rechecked the Show Post Excerpts option and now the excerpts are working and the red Read More button is showing.
Glad it’s working for your now 
But I tried adding the custom CSS to change the text of the button and it’s not working…
You can try changing it by using the solution posted in the following topic.
https://colorlibsupport.com/t/change-read-more-button-text-and-color/
Best Regards,
Movin