For recording and streaming at different resolutions/fps the old OBS is still superior to OBS MP at this point. OBS MP forces you to use the same scene and FPS if you do streaming and recording in the same instance. Basically, if you want the same scene/FPS/resolution you're streaming in your local recording, but with better quality, use OBS MP. If you want different scenes (e.g. local record only your game, while streaming game + webcam or something), use the original OBS.
If you start it with -multi, you don't need to have different folders. You can use the same OBS installation for both your stream and recording (you'll still need seperate profiles obviously). I suggest getting rid of the second OBS installation (or both and getting a new, clean, install) then trying again to run 2 OBS at once.
Also, what kinds of sources are you using? It's a known issue that accessing the same capture card with multiple OBS instances doesn't work.