The Inspector panel provides great opportunities for customizing the block. You can hide/show the Inspector panel by clicking on the button with the gear icon, top right. Or using hotkeys ⇧+⌘+, for Mac, and ⇧+⌃+, for Windows and Linux.
General settings panel contains the main settings of the block related to processing and receiving data from Instagram, responsiveness and other global settings of the block.
The Appearance panel includes settings related to the layout view of the block, such as border style and border radius, shadows, initial animations & gutter.
The Hover Settings panel includes all the settings relating to the hover and the data displayed over the image of the post. The order and style of the data on the hover, as well as animation and color.
This settings group contains all the settings for the Lightbox. Colors, animations and other settings.
Panel with advanced block settings from the Gutenberg developers.