Probably caused by too little VBV (Video buffering verifier) buffer size in AMD AMF encoder, which creates the pulsing poor quality keyframes. Keyframes needs more data then other types of frames.
For better quality keyframes, VBV buffer size need to be bigger. Usually, VBV size should be set to bitrate.
03:00:28.550: [AMF Encoder] Bitrate:
03:00:28.550: [AMF Encoder] Target: 6000000 bits
03:00:28.550: [AMF Encoder] Peak: 6000000 bits
03:00:28.551: [AMF Encoder] VBV Buffer:
03:00:28.551: [AMF Encoder] Size: 1000 bits
03:00:28.551: [AMF Encoder] Initial Fullness: 100.000000%