GeForce Experience Instant Replay Issues

I have been wanting to record clips with GeForce Experience Instant Replay but I can't get it to work.

The overlay comes up and works fine, I've scoured all the settings I can find and still nothing. I have only seen the icons for my Mic and Instant Replay in the bottom right come up once and the instant replay still didn't work.

Had anyone else encountered this, or have a potential fix?

Not sure if I should head over to one of the Nvidia subs to ask there, but figured I'd start here.