Unable to Pre-Render My Timeline in 4k

I searched around for this topic for a while, but couldn't find the exact issue I'm having. So, I apologize if it's already been answered. I'm pretty new to Premiere and editing in general.

Up until recently I have been editing in 1080p, and just made the decision to start filming and editing in 4k. The issue I'm having suddenly is with pre-rendering my timeline while editing. I do a lot of timelapse, so I learned quickly that the "red bar" on the timelime means you need to render it to get rid of all the choppiness to see the preview clearly. I had no problem with this when I was editing 1080p. But now with 4k, Elements will no longer pre-render. Whenever I try, the playhead will just jump to the beginning of the timelime and auto play.

It does appear that exporting will render it like it normally would. I just can't render in my timeline while editing.

I've selected "QFHD 16x9 29.97" as my editing preset when opening a new project, which gives me "Red Cinema" as my editing mode, but it still won't work like 1080p does. This is making editing really cumbersome, and I would really rather not move back down to 1080p if possible. But if I can't figure this out, I won't have a choice.

Any help would be greatly appareciated. Thanks in advance.