Choppy, Laggy, and otherwise unreliable Playback

Hi, I'm having an issue and for the life of me I cannot figure it out.
I have a Ryzen 7 1800X CPU, a GTX 1070 GPU, 64 GB of DDR4 2800 MHz RAM (yes, I know it's overkill) and I am using Premiere v15.0 on an SSD. I honestly believe that, while this isn't an insane set up, it should be way more than adequate for what I'm editing.
Premiere is lagging and has choppy playback on what I think is a lightly loaded timeline. I can doubly confirm this because I have the dropped frames counter and it starts immediately dropping frames, like hundreds in a short period of time. It is just 1 or two video layers with 1080p 60fps and 2 audio tracks. I have not checked if I have this issue with After Effects. When I manually scrub / move the play-head it seems perfectly fine and smooth with no issues. The timeline bar stays yellow and I cannot get it to turn green using the render function (not render and replace or export).

To try and help with the laggy, choppy, and unpredictable playback I have:

- Updated to the latest Premiere Pro version (v15.0) according to the Adobe Creative Cloud desktop app.
- Changed the render resolution, made sure it was on low quality and wasn't forcing high quality

- Disabled the effects

- Tried both enabling AND disabling CUDA

- Adjusted playback frames setting.

- Deleted the Media Caches

- Set premiere priority in task manager to as high as it would let me (high)

- Allowed Premiere to use up to 48 GB (even though it never uses more than 6)

- Changed `Default Input` in the `Audio Hardware` to `No Input`

I have tried every solution I could find except using psuedo files and/or rendering and replacing because

1) I do not think using psuedo files would solve my problem and

2) Rendering and replacing with every edit I make seems unreasonable, and I don't think it would solve my problem.

The hidden problem I believe is that premiere just won't use my computer resources.

It uses like 1-3% of my CPU and GPU, only a few GB of RAM, and almost no disk (SSD, you get the point) when I want to use the playback.

I have no clue how to fix it as every online forum is complaining about too much usage, not too little.

If anyone has insight about how to solve this issue I would greatly appreciate it.