slow transcoding fps

[Nickoetje]

recently installed jellyfin and having issues with the player hanging every few secconds
logs:
https://pastebin.com/M1vD42zg
https://pastebin.com/a1TsDK4f
jellyfin is on a proxmox debian vm (nvme) with vgpu using quadro p4000 reading media from mounted hdd
nvtop report 20% mem useage but no or not noticable gpu useage cpu on 10%
disk usage is 229kB/s reads

enabled on nvenc jellyfin settings are:  h264 HEVC VC1 VP8 VP9 HEVC 10bit VP9 10bit the other settings are default
what can i check to see what is limiting the transcoding

on theplayback info its showing:
Playback Info

Player
Html Video Player
Play method
Transcoding
Protocol
http
Stream type
HLS
Video Info

Player dimensions
2560x1286
Video resolution
1920x804
Dropped frames
0
Corrupted frames
0
Transcoding Info

Video codec
H264
Audio codec
AAC (direct)
Audio channels
6
Bitrate
8.4 Mbps
Transcoding progress
1.5%
Transcoding framerate
3.8 fps (0.16x)
Reason for transcoding
The video's bitrate exceeds the limit
Original Media Info

Container
mkv
Size
6 GiB
Bitrate
8.3 Mbps
Video codec
HEVC Main 10
Video bitrate
8.0 Mbps
Video range type
SDR
Audio codec
AAC LC
Audio bitrate
320 kbps
Audio channels
6
Audio sample rate
48000 Hz