Low performance while streaming but nothing is maxed out

Hello everyone! I just started getting into streaming but I have a question about my rig and maybe what i need to do to make it run better.

These are my specs:
GPU - NVIDIA GeForce RTX 3080
CPU - 12th Gen Intel(R) Core(TM) i7-12700KF
RAM - 32GB
Dual monitor setup with main monitor being 1440p and second being 1080p with 144hz refresh rate (idk if that's important)

This applies to the game ARC Raiders, when I stream, I have my settings on low yet Im still only getting between 20-40 fps and maybe 50 if im lucky. And the graphics are so low, like it looks similar to a mobile game and yet no fps. Could this just be my rig's limits? It feels off because none of my parts are maxing out. For example, my CPU was under 80% and my GPU was under 50%. I'm not sure what the issue could be but any suggestions are welcomed and appreciated; I dont want to stream potato quality games LOL. By the way, I am streaming through Meld Studio so I am not sure if that is a factor.