CVPixelBufferPool poor performance vis-a-vis directly allocation

I have been allocating pixel buffers from CVPixelBufferPool and the code has been adapted from older various Apple sample codes such as RosyWriter. I see direct API such as CVPixelBufferCreate are highly performant and rarely cause frame drops as opposed to allocating from pixel buffer pool where I regularly get frame drops. Is this a known issue or a bad use of API?

Here is the code for creating pixel buffer pool:

private func createPixelBufferPool(_ width: Int32, _ height: Int32, _ pixelFormat: FourCharCode, _ maxBufferCount: Int32) -> CVPixelBufferPool? {
        var outputPool: CVPixelBufferPool? = nil
        let sourcePixelBufferOptions: NSDictionary = [kCVPixelBufferPixelFormatTypeKey: pixelFormat,
                                                      kCVPixelBufferWidthKey: width,
                                                      kCVPixelBufferHeightKey: height,
                                                      kCVPixelFormatOpenGLESCompatibility: true,
                                                      kCVPixelBufferIOSurfacePropertiesKey: [:] as CFDictionary]
        
        let pixelBufferPoolOptions: NSDictionary = [kCVPixelBufferPoolMinimumBufferCountKey: maxBufferCount]
    
    CVPixelBufferPoolCreate(kCFAllocatorDefault, pixelBufferPoolOptions, sourcePixelBufferOptions, &outputPool)
        
        return outputPool
    }
    
    private func createPixelBufferPoolAuxAttributes(_ maxBufferCount: size_t) -> NSDictionary {
        // CVPixelBufferPoolCreatePixelBufferWithAuxAttributes() will return kCVReturnWouldExceedAllocationThreshold if we have already vended the max number of buffers
        return [kCVPixelBufferPoolAllocationThresholdKey: maxBufferCount]
    }
    
    private func preallocatePixelBuffersInPool(_ pool: CVPixelBufferPool, _ auxAttributes: NSDictionary) {
        // Preallocate buffers in the pool, since this is for real-time display/capture
        var pixelBuffers: [CVPixelBuffer] = []
        while true {
            var pixelBuffer: CVPixelBuffer? = nil
            let err = CVPixelBufferPoolCreatePixelBufferWithAuxAttributes(kCFAllocatorDefault, pool, auxAttributes, &pixelBuffer)
            
            if err == kCVReturnWouldExceedAllocationThreshold {
                break
            }
            assert(err == noErr)
            
            pixelBuffers.append(pixelBuffer!)
        }
        pixelBuffers.removeAll()
    }

And here is the usage:

bufferPool = createPixelBufferPool(outputDimensions.width, outputDimensions.height, outputPixelFormat, Int32(maxRetainedBufferCount))
  if bufferPool == nil {
                NSLog("Problem initializing a buffer pool.")
                success = false
                break bail
            }
            
            bufferPoolAuxAttributes = createPixelBufferPoolAuxAttributes(maxRetainedBufferCount)
            preallocatePixelBuffersInPool(bufferPool!, bufferPoolAuxAttributes!)

And then creating pixel buffers from pool

  err = CVPixelBufferPoolCreatePixelBufferWithAuxAttributes( kCFAllocatorDefault, bufferPool!, bufferPoolAuxAttributes, &dstPixelBuffer )
        
        if  err == kCVReturnWouldExceedAllocationThreshold  {
            // Flush the texture cache to potentially release the retained buffers and try again to create a pixel buffer
            err = CVPixelBufferPoolCreatePixelBufferWithAuxAttributes( kCFAllocatorDefault, bufferPool!, bufferPoolAuxAttributes, &dstPixelBuffer )
        }

     if err != 0  {
                if  err == kCVReturnWouldExceedAllocationThreshold  {
                    NSLog("Pool is out of buffers, dropping frame")
                }
                else {
                    NSLog("Error at CVPixelBufferPoolCreatePixelBuffer %d", err)
                }
                break bail
            }

When used with AVAssetWriter, I see lot of frame drops caused due to kCVReturnWouldExceedAllocationThreshold error. No frame drops are seen when I directly allocate the pixel buffer without using a pool:

            CVPixelBufferCreate(kCFAllocatorDefault, Int(dimensions.width), Int(dimensions.height), outputPixelFormat, sourcePixelBufferOptions, &dstPixelBuffer)   

What could be the cause?