I tried DeSmuME with game capture and it works fine in terms of capturing the game, but it starts stuttering badly for some reason, like sometimes it freezes completely, then it starts again but outputs like 3 FPS, then freezes again etc... Another friend of mine can confirm this with both the latest stable build and the latest test build which is supposed to include some hotfixes for the game capture. It seems to be fine anywhere else though. It's just DeSmuME going nuts with game capture.
EDIT: I failed to mention that game is still being emulated fine, it's just the output on OBS.
EDIT: Actually, scratch that, it seems to stutter a bit on Dolphin as well but definitely not as much or at all, just occasionally. I guess it has something to do with how DeSmuME works with its display output, not sure.
EDIT: It also seems that I get no output with DirectX capturing and game capture for some reason, it's just black screen, but window capturing works fine.