Quality 5 >> 0
Max Bitrate: 520 -> higher than that gives me ingame delay make this
Buffersize: 480 <
change those to
1000/1000 << and use cfosspeed to set the game to the highest priority (doesn't matter if you're going slightly past your max upload rate because of other settings)
CPU preset: veryfast is already optimal so don't change it
and lastly about the fps, your upload speed is too low to consider 45 or 60 fps before looking at your resolution.. try 1280x720@30 and see if its watchable with no frame drops at high motion scenes