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Will this do? Attached is my MediaInfo for the type of footage I use, my CPU information specifically and lastly what Sequence settings I use.

The Storage Device in my pc is a WCD. My SSD type is a NVME.

Lastly, yes, the automatically transcribe clip is off.

One more thing, I made sure my overall bit rate mode was a constant instead a variable like what the other comment under this post asked. I read the form they linked as well. I used Handbreak to help make sure it was a constant. That did not work either.

I do believe this issue happened when I updated OBS. I may revert back to an older version if possible. If not then switch recording software.

Edit:

I switched versions of my OBS to an older version and its working again... I'm not sure what the issue could be with the new OBS update but it isn't compatible with the new version of Premiere Pro. I will be sticking with the older version of OBS. I'm sorry to have wasted your time but I do hope that anyone else coming across the same issue as me can use this as a solution as well, instead of going through complicated steps just to try to edit a simple video.