Premiere Pro extremely laggy, no reason whatsoever

I have been trying to fix this for a week now and I just dont know how to continue.

My Premiere Pro is lagging extremely hard, I have applied some effects and my timeline looks like this (appendix). The edit is only 7 seconds long and my hardware is pretty good. I dont know why it is lagging, I am really frustrated and I cant edit my video. The project is at 59fps/60fps at 1920x1080. The footage used are mostly just pictures from the internet and a short stock video. text and some effects.

So, to my PC specs, I have an RTX3070, Intel I-9-10900F, 64GB RAM, 500GB SSD.

I have tried the following:
Update all of my drivers to the correct version (they are all up to date)

Try GPU Acceleration and only software

Enable/disable hardware accelerated decoding

Adjusting the settings in the Nvdia Control Panel

Using a different Premiere Pro version (usually using Premiere Pro 2023)

Rendering those 6 seconds also takes like a minute, which is way too long and even after rendering I sometimes experience lags. My CPU is being used 100%, while my GPU is barely being used (look appendix).

I need help ASAP as I am really considering to switch to a different Software because I cant properly edit with Premiere anymore.