Why is my Premier Pro so slow

[#1]

I have used Premiere Pro for a few months now. Yet the playback is always lagging even on the lowest playback resolution. It makes it very difficult for me to go through the footage when it constantly lags. It gets even worse when I add effects, which I don't understand given my specs, I bought my laptop for performance yet I am not seeing the results I was hoping for. Every other app runs smoothly it's just my premier pro that gives me problems.

My specs are as follows

CPU: Core i7-8750H GPU: GeForce GTX 1070 RAM: 32 GB

If someone could let me know if any of my specs are the issue or if I have to change something in the settings that would be amazing. I am still new and have yet to understand premier pro completely.

All I want is for my playback to run smoothly with or without effects.

I've attached my project settings in there as well in case that helps with identifying the problem

Thank you again

[#2]

I have used Premiere Pro for a few months now. Yet the playback is always lagging even on the lowest playback resolution. It makes it very difficult for me to go through the footage when it constantly lags. It gets even worse when I add effects, which I don't understand given my specs, I bought my laptop for performance yet I am not seeing the results I was hoping for. Every other app runs smoothly it's just my premier pro that gives me problems.

My specs are as follows

CPU: Core i7-8750H GPU: GeForce GTX 1070 RAM: 32 GB

If someone could let me know if any of my specs are the issue or if I have to change something in the settings that would be amazing. I am still new and have yet to understand premier pro completely.

All I want is for my playback to run smoothly with or without effects.

I've attached my project settings in there as well in case that helps with identifying the problem

Thank you again