So I didn't know about the need to select a graphics processor so that I was making use of the NVidia hardware. I right clicked on the executable, and there it was. I'm coming from a linux environment where I just always kept the hardware acceleration enabled. Now that I not only figured out how to enable it, but also enable it by default, it kicks in on its own, even from the command line. BGFX with crt-geom-deluxe is running at 100% now, and I can even crank it up a little over 150% when I turn the throttle off.
I'd love to get this in some sort of knowledge base for other users who stumble on the same problem, but I don't know where would be best. I guess here will have to do for now.