CPU usage is non-existent

I've been using Resolve 16 at home for quite a while, which has an i7-7700, 16 GB RAM, and a GTX 1070. I have no issues with rendering videos and my CPU pegs at 100%.

However, I recently built a new PC with an i9-10900k, 64 GB RAM, and a GTX 1050 TI (yes I know it is a bottleneck, but can't find a 3000 series card at the moment). The problem is I get almost no CPU usage whatsoever when I render on this rig (maybe 4-5%). Thoughts on what the problem might be? Thanks.

That CPU has a hell of a lot more power than the old.

In other words, 8 oz. of water is going to fill a measuring cup, but it's barely a drop in a swimming pool. Same amount of water, though.