At work but I can describe it to you. This is all on a long desk in front of me:
Asus 23" monitor to my left. PS4 is behind it with HDMI plugged into Elgato. The Elgato is to the right of the PS4. HDMI out to the Asus monitor and the USB cable connected to my PC on the right side of the desk. My primary monitor is straight ahead.
This is my setup and it works well for me.
No I didn't do anything special. I didn't know this was an issue until your brought it up. That is odd though.
My video seems smooth to me and I think ShadowKingpin is indicating the same. I believe I made that video with max bitrate or very close to it.
I did have a really bad issue a few days ago where my game would literally freeze.
Here's a video I made showing the bad performance
I was having that terrible performance even when I wasn't recording. So I hooked the PS4 directly up to my monitor and the problem instantly went away.
Edit: the above seems to be a Madden issue and not a Elgato issue