Just another note on this.
I’ve been working on streaming date from TD to UE via NDI on the same machine, and noticing this same performance issue.
I believe this is related to UE’s wanting to run at whatever the maximum available frame rate is by default.
On a machine with a RTX5000, UE5 will run my project at about 100fps. If TD is attempting to concurrently run in realtime at 60fps, it will stutter because UE has taken over control of the GPU refresh rate. The solution would seem to be going into project settings in UE and setting a “fixed framerate” for the project at 60. Doing this I get smooth 60fps playback in both UE and TD.