Here's the reason for your system being slow: Your GPU. You heard me correctly.
You see, that GT 1030 is so weak even by the standards of its day that it would choke the life out of almost everything else (both hardware- and software-wise) that ran on that PC. In fact, it is actually weaker than some of the on-CPU integrated graphics! It is a very poor performance match to any modern CPU, especially those that have more than 1 core and 1 thread. Your CPU has 6 cores and 12 threads. The performance ba;ance between the CPU and the GPU is way lopsided. Equipping any modern PC with a cheapo GPU is just pound-foolish, as it would make your shiny new CPU perform as slow as or slower than a 4-core/4-thread CPU that's eight years old.
And don't bother with the public betas: The GP108 GPU, as utilized in the GT 1030, does not support NVENC encoding at all.
And the reason why the GT 1030 is still priced so high ($90-plus) is that it is intended for people who still run PCs which date back to the Core 2 Duo days of 2006 who absolutely must get a GPU in such systems just to even work. Most chipsets for that CPU required a discrete GPU just to even run at all.
So, given its still way too high of a current street price for such a feeble GPU (it sells for close to or more than $100, the last I checked), I would have saved up another $50 or so and getting a GeForce GTX 1650 SUPER instead for that system.
Also, HDDs were never suitable for any kind of video editing work because of the way that professional video editing programs decode video (very unlike a simple consumer video player): Editing programs MUST decompress video to 4:4:4:4 uncompressed at extremely high bitrates just to even display on the program's monitor (all that is done in RAM, and on the fly). Unfortunately, 1 TB HDDs never could sustain transfer speeds of more than 190-ish MB/s even on the outer tracks of the disk due to the limitations of spinning platter technology. But put that through SATA (which is a half-duplex interface and not a full-duplex interface), and you'll end up with less than 100 MB/s available for either reads or writes.At typical fill levels of these HDDs, you'll end up with only about 60 to 70 MB/s available for reads or writes. That, combined with the way NLEs handle video playback, meant that the typical HDD is barely suitable for standard-definition (480p) video editing.
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