21:51:07.242: [x264 encoder: 'recording_h264'] preset: veryfast
21:51:07.242: [x264 encoder: 'recording_h264'] settings:
21:51:07.242: rate_control: CBR
21:51:07.242: bitrate: 40000
21:51:07.242: buffer size: 40000
40,000 bitrate for 720p30 at veryfast? 4000 is more than enough lol
stream with CPU and record with GPU you should be okay also disable custom buffer size, also i noticed you are streaming at the same resolution your base resolution is (1280x720) if you have a 1080p monitor your base resolution should be as such (1920x1080) with only output resolution at 1280x720