Render timeline

Hi everyone.

I'm rather new to premiere pro, so please bear with me and my lack of understanding.

Is it normal that when I render my timeline (not export) that the playback quality isn't changeable?

I just finished rendering a clip, so that it plays back smoothly after some colour correction and sharpening. What I noticed, was when I paused the clip and tried to change the paused resolution from full to 1/2 or even 1/8, nothing changed and it's the same with the playback quality.

I've tried different codec settings and also deleting the preview etc.