4K video with adjustment clip effect not playing smoothly

I have a video clip, it's BRAW 4K, and when I add an Adjustment Clip over it and add the DSLR effect to the Adjustment Clip, it struggles to play.

I want the video clip to be monochrome so I did this using the color page. But I don't want the effect to be monochrome because I like the color of the red REC dot being red.

If I don't use an Adjustment Clip and just place the DSLR effect on the video clip then the red dot becomes monochrome which is what I don't want.

How can I make it play smoothly keeping the red REC dot red?

I really like what Blackmagic have done with this DSLR effect and I'm going to use it for an up-and-coming film.

How can I make it play smoothly

Cache, or Render in Place.

If I Render in Place it only renders the video clip and not the Adjustment Clip with it resulting in unsmooth playback still.

How can I Render in Place the video clip with the Adjustment Clip attached to it?

Turn the AC and Clip into a Compound for Render in Place.

You could also do the work in Fusion with a Color Corrector node for the B&W.

Thanks Jim, making a compound clip and Rendering in Place made it play smoothly.

Before I render out at the end of editing do I need to select "Decompose in Place" to get the highest quality possible or does Resolve know to use the original video clip and Adjustment Clip?

You won't need to Decompose.