Had the exact same issue with fast-paced games on an RTX 3060. Manually bumping the bitrate to around 50 Mbps and using NVENC completely fixed the pixelation for me.

Totally agree. It had so much potential when it was announced, but with years of silence, it's hard not to think it's been shelved. Hopefully the team can give us a quick update just to let everyone know where things stand.