The "Dynamic Bitrate" setting is used to automatically make Streamlabs adjust your show's bitrate to account for any latency and performance spikes. To find this option in your Streamlabs streaming software, please follow these instructions:
1. Click the little "gear" icon in the lower-left corner of your Streamlabs software to access the Streamlabs Settings.
2. While navigating the "Advanced" menu (left-hand side), find the "Network" panel. You might need to scroll down to find it.
While making sure that "Bind to IP" is set to "Default", enable the checkbox that says "Dynamically change bitrate when dropping frames while streaming".