Figured it out. I had already done the suggestions of the cache being green and also the deleting of the cache prior to posting this thread (as this had been answers on other earlier forum posts).
My answer was that the auto bit rate was producing files too large for my hard drive. I suspected an issue with this when all files, regardless of quality (4k/1080) were producing files of practically the same size.
Turns out that I had my HDD formatted as FAT32 (only supports files of up to 4GB). However limiting the bit rate to something sensible (such as 40,000 Kbps) produced a reasonable sized file (3.6Gb for 11 mins @4k 60fps).
Looks like it's time to reformat my hard drive!
Although it begs the question, what unreasonable bit rate does auto go to to create such monstrously large files?
Either way case closed...