AME is not utilizing CPU/GPU and only utilizing a small % of available RAM

Hi, looking at task manager, my adobe media encder barely utilizes any of the utilities it has available. It takes over 15 minutes to render a 25 second video (with effects) 1500 x 800 H264 file @ 15 fps and 2mbps target bitrate. 

My after effects utilizes a fair amount of RAM/GPU when used. Even with AAE closed or opened, it takes roughly this amount of time. 

I have a RTX 3080TI and I've selected CUDA as the renderer and alloted 29 GB RAM to the program. Any ideas on how I can increase the performence?