You can further optimize FFmpeg commands for improving latency, processing speed, video quality, audio quality etc: Here a few short-hand tips & recommendations on optimizations.

1. FFmpeg provides a flag -tune zerolatency to reduce latency on the video processing. Although not a magic wand, you can always try it on your own to see if it makes a difference.
   Reference: https://trac.ffmpeg.org/wiki/StreamingGuide
2. FFmpeg provides presets to determine frame processing speed. Sometimes a higher speed may skip frame details when reading & processing. On the other hand, slow processing may add to overall latency. Based on your use case and stream content you can select an optimal preset in your FFmpeg command.
3. The Newer versions of FFmpeg include multithreading support which can take advantage of a multi-core processor more efficiently. You can read more about it in the official page.
4. When re-encoding take special care to match your video frame rate & audio sample rate properly otherwise you may run into a/v sync issues.