Then your laptop itself is probably lacking. The wizard probably killed the quality as much as it could, and it's still too much.
You're using CPU encoding (x264), which takes a fair amount of juice, and the recording is set to use that again instead of copying the stream. So you have two simultaneous software encodes if you're doing both. All on a pretty old CPU.
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You also say it's a laptop. That's another red flag, because laptops generally have terrible cooling and overheat easily. The idea there is to load something quickly, and then sit and do nothing while it cools off and the user looks at what it just loaded. Not what you want for media production.
Media production hits it hard, continuously, so it runs smack into thermal throttling and stays there. So even though the published clock is 1.80 GHz (correcting your mistake), or 1800 MHz, you might actually see more like 600 MHz continuous. Good luck with that!
There *are* laptops that can do this - I have one myself: a Dell Precision M6800, bought new in 2015 - but they actually have decent cooling, which makes them thick and heavy. If you have to use a laptop, look at the "mobile workstation" class.