Except for the LP08, adjustable rear sights were only adjustable for elevation. Windage adjustments had to be made with the front sight. Up until about mid-1917 the LP08 front sight was screw adjustable. Other front sights had to be moved with a drift punch or a special tool as you mentioned. Not everyone sees the same "sight picture" when aiming, so moving the front sight sometimes was necessary for some individuals. Also there may be a need to compensate for wear or barrel rotation (rare).
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If it's made after 1918...it's a reproduction
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