According to support online help is no longer available after UCMDB 10.33. Some customers do not have their production UCMDB connected to the internet or the connection could be slow.
I think it should be available as is online help for other products, though maybe online help is going away for all products.
You mentioned "the value for online help showed True". The setting should be "false". Can you verify that's what it is?
For me, when I click on the help icon, I am sent to this file, and not the online site
I just tried it on UCMDB 2019.05 on Windows 2016 and it didn't work. I made the change in the UCMDB local client, but help still went to docs.microfocus.com. I used the jmx-console and made the change there and help still went to docs.microfocus.com. I brought up the UCMDB GUI in my browser. The value for online help showed True, but Help still went to docs.microfocus.com. The instructions did not indicate a need to restart UCMDB.
Turns out this is a feature that is already offered! I didn't even know this :-). I tested this on my own instance of CMS 2019.05 and I can see the local filepath was used when I went to a help topic.
Here are the details
CMS 11, 2018.05, 08, 11, CMS 2019.02 – search for “How to enable Localized Online Help”. For example
CMS 2019.05 – search for “Online and Offline Context Sensitive Help”. For example