Steps to enable Hardware-accelerated Decoding: for intel quick sync(you may also have to enable it in your bios)
Navigate to Preferences > Media
Select Enable hardware accelerated decoding (requires restart)
Restart Adobe Premiere Pro
set memory to premiere to half for premiere and half for After Effects if using both at the same time in dynamic link.
Select Edit > Preferences, and select Memory in the Preferences dialog box
if you have quicksync enabled and premiere playback is stil slow, you can also use prores, dnxhd and others for a proxy if you like. just basically anything that is intraframe should work well.