Rotax Line Maintenance Manual has a very abbreviated description. Here's a YouTube video on the procedure:
Note this is for the iS engine with 0 degree dogs in the clutch.
1. Mags off, remove top plugs; confirm tester orifice is 0.040 inch.
2. Cap off oil tank so you can hear gurgle
3. Thumb lightly plug hole on cylinder #1, feel for max compression as you rotate prop quickly in direction of rotation (clockwise as seen looking forward). Then use bamboo skewer to feel for TDC.
4. Screw adapter into plug hole.
5. Make sure tester gauge adjustment screw valve is closed; plug into air compressor line, then connect tester gauge to adapter
6. Screw in adjustment valve to bring pressure up to 20 psi – prop may move if piston is not TDC
7. Rotate prop by hand (if air pressure turned the prop clockwise, you turn it back counterclockwise (less than ½ turn) to neutral state, taking up the play as the dogs move back & forth– you can feel the compression as you rotate the prop. .
8. Bring pressure up to 30 psi; band for feeling the “center of the lump” will be narrower; wiggle prop back & forth to find center of lump. Less lash with 0̊ dogs than with 30̊ dogs. If you don’t get the TDC right on an engine with 30̊ dogs, it can snap one way or the other and rip the prop out of your hand and spin.
8. Bring pressure up to 87 psi. Stay clear of prop! If engine is TDC, prop will not turn. You’ll hear a gurgling sound from oil tank. Record pressure differential. Close screw valve.
9. Rotate prop clockwise to bring cylinder #4 to TDC, first feeling for air pressure with thumb and then checking with skewer.
10. Attach adapter and gauges. Bring pressure up to 20 psi, watching for prop to turn. Move prop to neutral position.
11. Check for TDC at 30 psi.
12. Bring pressure up to full 87 psi, record differential. Close screw valve.
13. Continue with cylinders 2 & 3 (firing order is 1-4-2-3; check in that order).
When at full pressure, rocking the prop back & forth very slightly can shift rings & improve seating.