Encoding lag and stuttering frames despite low GPU and CPU utilization

I am running an RTX 3080ti and an i9-10900K. I'm trying to record a game at 4K 60fps and find that despite my GPU and CPU utilization showing relatively low results (10%-20% on my CPU and 60%-70% on my GPU), I am getting consistent encoding lag and stuttering in the OBS capture (NOT in the game), interestingly in the log it says that only 25 frames were dropped and yet in the OBS capture and in the recorded file, it looks worse than that, if that leads to any clue as to what's going on here.

Turning on and off game mode does not affect anything. Unchecking psycho visual tuning does not affect anything. Removing excess capture sources does not affect anything. I am running OBS in administrator mode.

Log: https://obsproject.com/logs/NLz1rftpXwSl1sMS
 
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