Premiere Pro not using GPU for hardware acceleration

Hey everyone, I'm running into a really weird issue and I don't know how to resolve it!

Premiere Pro CC 2020 has suddenly become slow. In EVERY aspect. Notably, my biggest issue is playback and rendering.

Premiere can't handle playback when I have Lumetri Color on. When it's off, it plays fine. I can even playback my footage in FULL resolution with no problem but when I turn on Lumetri Color, I can't even play it back at 1/4 resolution as the footage becomes incredbly choppy. I've read that Lumetri Color can often be very intensive and makes this issue but my computer can handle it and it worked FINE the past few months (this is a brand new PC). I'm just editing with my Adjustment Layer with Lumetri Color turned off and then I turn it on before exporting; which is my next issue.

A few months back Adobe rolled out an update that made export rendering INCREDIBLY fast. It's this specific update I'm referring to: https://youtu.be/dxnQQWUDQBo

I have been editing 20 minute long videos, using settings at 5.1, Hardware Encoding and CBR at 100 and those videos would come out to be like 15-20GB and my PC would export them in like 3~5min blazing fast.

For the past few videos there's been an issue where it won't do that. The 5.1 quality takes now 2 hours to export, so I tried switching it to 4.1, CBR at 69 and the video size goes from 15~20GB oto like 5~7GB. This is FIFTY minutes. (also using CUDA for export) 

I have no idea what happened. I did not change anything, I merely took a week off work and I come back and suddenly things aren't working anymore. I've done a clean re-install and no dice. I've also updated Premiere as well.

Here are my specs

AMD Ryzen Threadripper 3960X 24-Core Processor 3.79 GHz

32GB of RAM

NVIDIA GeForce RTX 2060 SUPER

I'm exporting right now in 4.1 and here is my performance usage

CPU 8%

Memory 13.3/31.9GB (42%)

GPU 4%