As already mentioned you need to calculate the drive speed required to pull that data off your drives. UHD (its not actually 4K its UHD) is 4 times the bandwidth of HD and at 60P that’s double 29.97fps so you are asking for 8 times the media to move from the drive for a single stream of video have a dissolve and that’s 16 times the data bandwidth.
Then that’s coupled with needing to decode MP4 in real time. To playback and do any sort of effect you have to decode the heavily compressed MP4 to uncompressed media then do the colour correction calculations and then render up the result for realtime playback.
You didn’t mention you Graphics GPU choices and these would need to be matched to work best with Premiere and take as much of the workload away from the CPU.
All of which is a very tall order. To edit in realtime at that sort of quality is going to need a much higher spec setup.
And that’s why people don’t really work that way. and why offline online was created.
Batch transcode to an editable quality is often done on a second lesser machine in parallel with the edit starting. That can make viewable outputs for approval
The final online is only the media needed so transcoding from MP4 to a workable edit codec like ProRes or DNxHR isn’t much work at all.
Or transcode to an editable codec early on and direct online.
Pat Horridge
Broadcast & Post Consultant, Trainer, Avid Certified Instructor
Free online Tutorials at VET digital media academy online https://vimeo.com/channels/752951
pat@vet.co.uk