That system has a U-variant CPU, which sacrifice computing performance for better battery life, and no discrete GPU.
Real-time video encoding is a very computationally 'heavy' task, with the overhead of multiple camera video streams (which have to be decoded by the CPU as well).
Recommend swapping to the Veryfast or Ultrafast preset instead of the Faster preset currently in use, to reduce CPU load.
You also show minimal rendering lag, but there isn't much that can be done about that. Chances are good that the camera inputs may be causing this as Droidcam and the EOS webcam app are not great performers.