He was only able to read a bit of the tablet. Here is how it goes:
Sharingan reads some of the tablet
Mangekyou sharingan reads more of it.
Rinnegan reads it all.
Now, when Sasuke and Itachi were talking just before their final battle, they discussed the mangekyou sharingan and Sasuke noted Itachi's deteriorated vision. After noting this, Sasuke said "So that's the price you pay for the power to control the kyuubi". After hearing this, Itachi responded "Ah, so it seems you read the stone tablet after all." Note that at this point in time, Sasuke did not have mangekyou yet. Therefore, this dialogue between the two implies that reading the tablet with a base sharingan reveals info about obtaining the mangekyou sharingan as well as its ability to control Kurama. Later dialogue between the two however implies that the info you can read with a base sharingan does not give you the info about eternal mangekyou sharingan or rinnegan. I can tell this because after the previously mentioned discussion about Itachi's fading vision, Itachi went on to reveal to Sasuke the story of Madara and Izuna and about the process of gaining the eternal mangekyou sharingan. Sasuke's reaction to the story implies that Sasuke didn't know this information about the EMS, which in turn implies that the information that he read with a base sharingan did not detail any information about EMS.
As we know, rinnegan is a higher dojutsu than EMS. Therefore, if reading the tablet with a base sharingan doesn't give you any info about EMS, it definitely doesn't tell you about rinnegan. Fugaku only had a 3T base sharingan. Therefore, he couldn't have read anything about the rinnegan from the tablet.
Now it is possible that he may have simply heard of the rinnegan by word of mouth of ancestors perhaps. Perhaps he had even heard of the sage of the six paths. After all, even Kakashi and Jiraiya (two non Uchihas) had heard of Hagoromo and the rinnegan. Therefore it is possible for Fugaku to have at least heard about it, but I doubt he read about it from the tablet or ever personally came face to face with it.