Premiere Pro Not Utilizing EGPU

I have a maxed out 16in MBP running the latest Mac OS X and Creative Cloud. My EGPU is a Razr Chroma with a 5700XT.

I've set Premiere and After Effects to "Prefer External GPU", but it seems as though it is still relying solely on my internal GPU while I am working. The only time I see an uptick is when I render, but it still seems to be bottlenecking on something -- my system CPU, GPU, Memory and Disk are only getting used at 50% max and I'm having 10min+ render times. 

This is pretty frustrating considering Davinci and FCP X have no problem utilizing this setup and it is supposed to be supported by Premiere.