Increase video rendering speed

There are some things that Photoshop does better that Premier Pro when it comes to video. Photoshop is much better when it comes to denoiseing, sharpening, color correcting, and leveling a video. However, video rendering takes several hours for a ~5 minute clip. I am using a Macbook Pro with M1 Max processor. It looks like the rendering engine is only using one core. Maybe try parallel processing and hardware acceleration? This would really help me out! Thanks!