Slow render times since updating to CC 2019

Ever since I updated Premiere to CC 2019, my render times have been unbelievably slow. My CPU usage has gone through the floor since this update (never more than 20% usage during a render).

Granted, I do use a lot of AE dynamic links, but my workflow hasn't changed at all since CC 2018. It seems as though Premiere is unable to truly utilize what my hardware is capable of.

Anyone else experiencing this or have a solution? I've reached out to Adobe support and they don't know how to help. They had to escalate the problem to the development team.

Specs:

Windows 10

Intel i7 8700k

EVGA GeForce GTX 1080

32 GB of DDR4 HyperX Predator RAM

3 970 EVO HDs (software, files, scratch)

(all drivers for graphics cards have been updated and I do have CUDA set up)