Slow Rendering and Export Times

Hi there, I bought a Macbook Pro in October of 2020, with the primary goal of video editing remotely. At first, everything was going fine -- export times were considerably faster than my previous computer -- but recently, rendering and export times have more than quadrupled. I have troubleshooted what could be causing this and I am at a loss. I have GPU enabled. I have cleared spaced on my harddrive. I have deleted media cache files. I have considered updating my OS (it's currently Catalina 10.15.7) but I somehow doubt this would solve my problem... Nothing seems to be working. 

What confuses me most is that export times definitely use to be faster, as recently as several weeks ago, on this very computer. 

Here are the specs for my computer: 

Processor: 

2.4 GHz 8-Core Intel Core i9

Memory: 

32 GB 2667 MHz DDR4

Graphics: 

AMD Radeon Pro 5500M 8 GB

Intel UHD Graphics 630 1536 MB

In general, the computer seems to get very hot when exporting, and even sometimes while editing, so I'm wondering if this is a hardware issue? 

Thanks!