The log you supplied doesn't show any issues. No rendering lag, no encoding lag, no dropped frames or bitrate changes.
You're streaming with CBR, which you should be, the bitrate doesn't fluctuate... unless you have Dynamic Bitrate enabled but you don't. If you did, it would look like this:
Code:
21:35:23.429: [rtmp stream: 'adv_stream'] Dynamic bitrate enabled. Dropped frames begone!
21:35:23.429: [rtmp stream: 'adv_stream'] Connecting to RTMP URL rtmp://a.rtmp.youtube.com/live2...
21:35:38.821: [rtmp stream: 'adv_stream'] Interface: Realtek 8852BE-VT Wireless LAN WiFi 6 PCI-E NIC (802.11, 1201↓/1201↑ mbps)
21:35:47.215: [rtmp stream: 'adv_stream'] Connection to rtmp://a.rtmp.youtube.com/live2 (2607:f8b0:4004:c19::86) successful
21:35:47.216: [rtmp stream: 'adv_stream'] Socket send buffer is 65536 bytes
21:35:47.458: ==== Streaming Start ===============================================
21:36:11.086: [rtmp stream: 'adv_stream'] bitrate decreased to: 29000
21:36:11.939: [rtmp stream: 'adv_stream'] bitrate decreased to: 17900
21:36:15.949: [rtmp stream: 'adv_stream'] bitrate increased to: 20900, waiting
21:36:15.949: [rtmp stream: 'adv_stream'] going back to prev bitrate
21:36:15.949: [rtmp stream: 'adv_stream'] bitrate decreased to: 17900
Use
TwitchTest to make sure you're connecting to the best server.