Slow Export on high end PC

1. When exporting with hardware encoding enabled the process slows down about 18-30% into the export process. 

First, it takes off at a decent speed then it slows down to a crawl. Timeline is also not that smooth.

it used to be smooth on my old i7 with 16 GB of ram.

Current PC Specs: AMD 3950x 16 core processor, Nvidia 2070 super and 32 GB of Ram and editing on Sabrent rocket SSD

According to the task manager, the GPU is only using about 12-15% of its capacity 

when exporting then it dies out about 18-30% (timeline)  into the process.

2. I turned off hardware encoding and it turns out the I get the same values as when I had Hardware encoding turned on, so it seems that the hardware encoding is not doing any work at all. The strange thing is that the GPU seems to get activated at the beginning of the export even if hardware encoding is turned off?

The computer acknowledges that hardware encoding should be working, however, it does not seem to do anything at all?