Seriously - ignoring the big red warning about NOT recording to MP4... sheesh.. don't do that. seriously.
Your PC is overloaded for your settings. which, is to be expected as your CPU is very old.
22:54:53.871: Output 'adv_file_output': Number of lagged frames due to rendering lag/stalls: 31 (3.2%)
22:55:35.146: Video stopped, number of skipped frames due to encoding lag: 928/971 (95.6%)
basically, your PC isn't powerful enough to both run and real-time encode the video.
Sorry to be the bearer of bad news. Modern phones and tablet can do real-time video due to specific chips and software to enable it. You are trying to use a relatively ancient CPU and generic software and drivers which simply aren't up to the task
That is a REALLY REALLY old CPU (circa 2009) for the computationally demanding task of real-time video encoding. And you are making situation worse by re-scaling base canvas.
I recommend monitoring hardware resource (CPU, GPU, RAM, Disk I/O, etc) utilization [for ex. using Task manager’s Performance tab and/or Resource Monitor] to see if your system is being maxed out with your settings [which its is]
https://obsproject.com/wiki/General-Performance-and-Encoding-Issues and
https://obsproject.com/wiki/GPU-overload-issues
With advanced Operating system knowledge, a lot of fine tuning, then similar knowledge and expertise, and probably a newer GPU to handle offloading encoding, you might get something... maybe... but even then, I wouldn't count on it.
