F1 22 - Encoding Lag during multiplayer with greater than 5 people

[GrantCrackers18]

I record my F1 22 gameplay, and for single player and small multiplayer lobbies, the settings run fine, I record 1440p at 60fps. When in a large multiplayer lobby though, the framerate becomes so choppy and unwatchable in some parts. I have no idea what the issue is, because if the recordings are good in small multiplayer lobbies, why would 10 more people cause so much lag?

Singleplayer recording: https://streamable.com/y5lpry

Multiplayer recording: https://streamable.com/mvttex

Log file is attached, any help is appreciated.