What's an FPX code? Is it atleast adjusted utilization?

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What are you talking about? FPX is literally a code subset specifically so that you can get utilization credit for internal projects

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D5 is correct. You get utilization. But you don't want to be on internal projects long term.

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It can count as adjusted utilization. Not sure all do but some so for sure.

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Yup it gives adjusted utilization

No, it does not. It collects the hours you spend on an initiative, but it does not count against utilization.

My senior manager/partner want me to work full time on something that provides an FPX code. Also I for some reason the groups thing doesn't work for me.

It doesn't count towards utilization and it's not regarded with the same prestige as an external client. If it's short and you can take the hit to utilization, do it, but if it's long and you need client work, think twice. A friend was on a fpx project for 5 months and she was told she didn't have enough client experience when she was let go earlier this year.

What am I supposed to do if sm from my office and capability is asking me to do this for him despite me asking to get on one of his real projects lol

Yup you get utilization. The way most ple have got out is having an agreement that you will do it for a month or two max and since you need client experience, you will need to get out after that

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