Poor Adobe premier pro performance

Hi

I am using my PC for editing 4K videos and the performance is very slow. In particualr I am surprised that premier pro is not using my GPU. My CPU usage goes to 97% during rendering and although I have selected mercry CUDA acceleration my GPU usage is only 7%.  Before I go and try other software want to eliminate any issues. I am using windows 10 pro and all of my drivers are the latest. 

system specs

water cooled Intel Core i9 7900x 12 core CPU @ 4.5GHZ 

64GB DDR4 RAM

Nvigita GTX1080 8GB video card

2TB Evo pro NVMe SSD

for referrence it takes ~5 min to render 10 minutes of 4K video, renderign the same project using my mac laptop that is significantly less powerful than the PC only takes 2.5 min. For tother similar tatsks such as RAW image processing, the PC is suually 10x faster than the laptop 

thanks