Reduce the Webcam resolution to 1280x720 or below (1080p usually makes problems due to high USB load) since you setup OBS to output 720p anyway.
Reduce FPS to 30, you have slight performance issues (late frames).
If you record only locally, set keyframe setting to 0, if you broadcast to twitch, use a value of 2 seconds.
Also set the encoding profile to "main" if you use twitch.
Everything else depends on the game and your internet connection if you want to stream.