1. Follow steps on
https://obsproject.com/kb/minecraft-java-edition-troubleshooting to make sure Minecraft is running on High performance.
2. OBS is not running as Administrator. Because of this, OBS will not be able to Game Capture certain games, and it will not be able to request a higher GPU priority for itself -- which is the likely cause of the 94.9% render lag you are currently experincing. Run OBS as Administrator to help alleviate this problem. To run OBS as Administrator, right click on the OBS shortcut, properties, advanced, check box, ok, apply, ok.
3. Your GPU is maxed out and OBS can't render scenes and encode them fast enough. Running a game without vertical sync or a frame rate limiter will frequently cause performance issues with OBS because your GPU will be maxed out. OBS requires a little GPU to render your scene.
Enable Vsync or set a reasonable frame rate limit that your GPU can handle without hitting 100% usage.
If that's not enough you may also need to turn down some of the video quality options in the game. If you are experiencing issues in general while using OBS, your GPU may be overloaded for the settings you are trying to use.
Please check our guide for ideas why this may be happening, and steps you can take to correct it:
GPU Overload Issues.
Do not use the Virtual Camera until you figure this out.
If still having issues, post new log.