CFR is on, CBR is on with max bitrate 11000kbps. I can switch it to 3000 kbps and the result is the same.
20:50:40: =====Stream Start: 2015-05-27, 20:50:40===============================================
20:50:40: Multithreaded optimizations: On
20:50:40: Base resolution: 1920x1080
20:50:40: Output resolution: 1920x1080
20:50:40: ------------------------------------------
20:50:40: Loading up D3D10 on NVIDIA GeForce GTX 980M (Adapter 1)...
20:50:40: ------------------------------------------
20:50:40: Audio Format: 48000 Hz
20:50:40: ------------------------------------------
20:50:40: Audio Channels: 2 Ch
20:50:40: Playback device Default
20:50:40: ------------------------------------------
20:50:40: Using desktop audio input: Speakers (Realtek High Definition Audio)
20:50:40: Global Audio time adjust: 0
20:50:40: ------------------------------------------
20:50:40: Audio Encoding: AAC
20:50:40: bitrate: 128
20:50:40: Using graphics capture
20:50:40: Trying to hook process: witcher3.exe
20:50:40: Scene buffering time set to 700
20:50:40: 1 CUDA capable devices found
20:50:40: [ GPU #0 - < GeForce GTX 980M > has Compute SM 5.2, NVENC Available ]
20:50:40: NVENC internal init finished successfully
20:50:40: NVENC supports 10 h264 presets
20:50:40: ------------------------------------------
20:50:40: Video Encoding: NVENC
20:50:40: fps: 30
20:50:40: width: 1920, height: 1080
20:50:40: preset: llhq
20:50:40: profile: high
20:50:40: level: autoselect
20:50:40: keyint: -1
20:50:40: CBR: yes
20:50:40: CFR: yes
20:50:40: max bitrate: 11000
20:50:40: avg bitrate: 11000
20:50:40: buffer size: 11000
20:50:40: ------------------------------------------
20:50:40: SharedTexCapture hooked
21:07:25: FlushBufferedVideo: Flushing 22 packets over 700 ms
21:07:26: Total frames encoded: 30135, total frames duplicated: 9 (0.03%)
21:07:26: Total frames rendered: 30138, number of late frames: 2 (0.01%) (it's okay for some frames to be late)
21:07:26: Encoder closed
21:07:26: NVENC deinitialized
21:07:27:
21:07:27: Profiler time results:
21:07:27:
21:07:27: ==============================================================
21:07:27: video thread frame - [100%] [avg time: 0.641 ms] [children: 29.6%] [unaccounted: 70.4%]
21:07:27: | scene->Preprocess - [0.312%] [avg time: 0.002 ms]
21:07:27: | GPU download and conversion - [29.3%] [avg time: 0.188 ms] [children: 24.3%] [unaccounted: 4.99%]
21:07:27: | | flush - [22%] [avg time: 0.141 ms]
21:07:27: | | CopyResource - [0.936%] [avg time: 0.006 ms]
21:07:27: | | conversion to 4:2:0 - [1.4%] [avg time: 0.009 ms]
21:07:27: Convert444Threads - [100%] [avg time: 1.745 ms] [children: 99.4%] [unaccounted: 0.573%]
21:07:27: | Convert444toNV12 - [99.4%] [avg time: 1.735 ms]
21:07:27: encoder thread frame - [100%] [avg time: 6.26 ms] [children: 1.25%] [unaccounted: 98.8%]
21:07:27: | sending stuff out - [1.25%] [avg time: 0.078 ms]
21:07:27: ==============================================================
21:07:27:
21:07:27:
21:07:27: Profiler CPU results:
21:07:27:
21:07:27: ==============================================================
21:07:27: video thread frame - [cpu time: avg 0.091 ms, total 2765.63 ms] [avg calls per frame: 1]
21:07:27: | scene->Preprocess - [cpu time: avg 0 ms, total 0 ms] [avg calls per frame: 1]
21:07:27: | GPU download and conversion - [cpu time: avg 0.041 ms, total 1250 ms] [avg calls per frame: 1]
21:07:27: | | flush - [cpu time: avg 0.036 ms, total 1093.75 ms] [avg calls per frame: 1]
21:07:27: | | CopyResource - [cpu time: avg 0.002 ms, total 62.5 ms] [avg calls per frame: 1]
21:07:27: | | conversion to 4:2:0 - [cpu time: avg 0.002 ms, total 62.5 ms] [avg calls per frame: 1]
21:07:27: Convert444Threads - [cpu time: avg 1.513 ms, total 91156.3 ms] [avg calls per frame: 2]
21:07:27: | Convert444toNV12 - [cpu time: avg 1.51 ms, total 90968.8 ms] [avg calls per frame: 2]
21:07:27: encoder thread frame - [cpu time: avg 0.47 ms, total 14156.3 ms] [avg calls per frame: 1]
21:07:27: | sending stuff out - [cpu time: avg 0.08 ms, total 2421.88 ms] [avg calls per frame: 1]
21:07:27: ==============================================================
21:07:27:
21:07:27: =====Stream End: 2015-05-27, 21:07:27=================================================