Media Encoder 2020 render extremely slow

I tried installing Studio Driver for my Nvidia RTX 2060 and man it changed everything now the video (Composition made in After Effects) that was taking 9 freaking hours to render got rendered in just 56 minutes.

PC Specs:
CPU: I9-10850K

GPU: RTX 2060

RAM: 32 GB (3600 Mhz)

Adobe media encoder has become a joke of a software and I can barely use it anymore, it hold me back from reaching deadlines and therefore from making money...it's taking 23 hours to render an 8 minute composition please find a fix for this and don't sweep it under the rug

I just notice on my 10 core cpu that when I reduced the threads it did a render that said it still needed 15-20 minutes in 2 minutes. When I used my 4-6 core processors it often only used 20-60% op the cpus the render times were slower but not slow enough that I am seeing an increase in rendertimes at this capacity with esentially the same threads I believe a good hardrive does wonders but not much is happening on the hard drive either.

Well it's November 2021 and this is still happening. Rendering a 5 second video, very little animation and Media Encoder is still "Reading XMP" for the last 10 minutes. 

October 2021, Still now fixed for me too.

I have the same problem. I'm on a pretty new mac laptop (OS Big Sur) that's as maxed out for video editing as one can get and while I'm used to it struggling with some bigger projects, it's clear the problem this time is media encoder because when I export from after effects my renders are taking  closer to their usual time. However I have over 200 30ish second videos I need to export, and doing them one by one through after-effect isn't gonna cut it, I've tried changing my media encoder settings, and switching codecs to apple pro res 422 but it's still taking forever even to export a 20 second video with nothing but some color correction and a mask on it. I can't even go back to the old version of media encoder because its no longer appearing in my creative cloud. 

Adobe needs to hurry up and figure out a fix for this problem because it's ridiculous and is making it literally impossible for me to do my job. I Have several longer 30 minute videos I need to start working on soon and I dread to even imagine how long their render times are going to be if this problem isn't fixed. 

Absolutely awfull. Hadn’t used ME since the last update and it obviously has to doo with exactly that: the update. A 10 second video from After Effects took 1 hour and 30 minutes and the video is literally just text gainig opacity and an icon moving through the screen... HOW?! Thank god I have only needed it one time since then, I will now update the newest 2021 version and really hope that issue is gone. Do better people.

I can confirm that this issue is still there in Adobe Media Encoder 2021. 
I'm running an i9-9900k at 5Ghz, 32GB Ram, RTX 2080 and all of my footage is 1080p MP4 running from a Samsung NVME drive.

A project that used to take 5 minutes to export now takes 50 - 60 minutes.

I've started moving all of my editing to Davinci Resolve which rendered the same project with the same files in 2mins 30seconds.

Adobe has been awful since 2020 and I will be cancelling my subscription! I see no advantage in any of their systems any more. They're all slow, cumbersome and constantly crashing. There are so many better and cheaper alternatives out there now! What's the point in Adobe!

Adding my experience here, AME experience has been pretty bad for me. The rendering speed is OK at the start, but gets slower and unbeareably slow towards the end. Something is not right here, I switched to a cheap alternative encoding software, it took only a few minutes for my purposes.

Exact same issue here. Ever since 14.4 it's been incredibly slow. Videos that would take 4 minutes to render have taken up to 1 hour. 15.0 still the same issue. You can no longer even downgrade in the Creative Cloud app to a version that works, they only allow going down to 14.9 now. This is crazy, something so mission critical is completely broken and we can't even revert to a version that works.

For reference my system is: Ryzen 7 3700x, 32gb Ram, RTX 3090 - there should be zero issues. This is entirely on Adobe and it would be nice if they would at least acknowledge it