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I went to install the latest version of ME (15.0) after sitting on 14.4 because later versions are 5x slower to render proxies. 3 hours of 1080p 60fps footage would take about 30 minutes on ME version 14.4, but anything after that and it takes around 2-3 hours. Not to mention that CPU and GPU usage are much lower on anything past 14.4. I can't even reinstall 14.4 anymore because CC removed it without asking me, even though it asked me if I wanted to keep older versions of PR and AE before I updated those (I always keep older versions just in case there are issues). It's frustrating because I work with a lot of livestream vod footage, so being able to create proxies really helps with timeline performance.
Specs for the curious:
i9-9900k
GTX 1080 FE 8GB
64GB of DDR4 3200
1TB SSD for OS/Software
500GB SSD for footage
(Latest NVIDIA drivers installed (465.89))
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I assume you're screen recording using OBS, which is notorious for spitting out VFR files that Premiere and AME do not play well with. You might want to try adjusting your OBS prefs to record with settings that work better with AME. What these settings are is going to vary per machine so some experimentation is likely required.
That being said, proxy creation is never really a fast process, especially for longer clips.
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ah, I shouldve mentioned that the footage I work with is from others and not my own (or else id make sure it was CFR lol). I download the Twitch vods and then create the proxy for them because of VFR not playing nice. With 14.4 the proxies got made quick while on anything past that version is much longer with much less cpu and gpu load. I just did a test using DaVinci Resolve to render a similar quality version of the proxies I usually make, and it completed it in about 35 minutes. I was then able to attach that file as the proxy and it was smooth again. That might be my new method until ME gets an update that fixes it. It's a bit of an inconvenience but, it'l have to do because I can't just go back to 14.4 anymore 😕
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Isn't V14 still available to download?
Try these instructions: https://helpx.adobe.com/download-install/using/install-previous-version.html
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Nope, only shows 14.9 and 15.0 now 😞 I used to be able to though until recently...
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This is v13 but perhaps it will help you
https://prodesigntools.com/adobe-cc-2019-direct-download-links.html