I was 1st having an issue in Screen Recording mode and it wasn't letting me record when I'm in Minecraft but I fixed it by going to version 4.2.0.
After doing this, I got so many lag spikes, the game was litterally unplayble. I can get 60 FPS but it will drop down to like 0 when I do anything. And no it's not because I haven't allocated enough RAM to Minecraft. Also I have the latest graphics driver installed on my laptop so that's not the issue. I also already had the Low-end PC Preset (with a few tweaks) selected.
Intel Pentium CPU B960 2.20 GHz
Intel HD Graphics (Sandy Bridge)
8 GB RAM DDR3
Windows 10 Home
Here is the video with the lag spikes: https://youtu.be/8sYWAoZz_qQ
Here is my Bandicam settings: