It should cut like butter through plywood with those settings provided the machine is stiff enough and this is probably where your trouble lays.
Carbide likes to take nice big cuts and often isn't pushed hard enough but it's also brittle and doesn't like vibrations so really needs a good strong spindle and machine.

Also, I suggest you forget the recommended speeds n feeds if your machine is weak because they are based on industrial-strength machines with high HP spindles so you can't really use them anywhere near what they suggest.

I can not make any accurate suggestions regards speeds n feeds and neither can anyone else unless they know your machine. All I can say is that it's safer to start low and work up and listen to what the machine is telling you. Get to learn it's language and it will let you know when it's unhappy.

My main suggestion is to start with 50% tool diameter DOC as it's safer and see how it goes from there. Play with feeds n speeds until it's happy then look at increasing DOC and adjusting F&S accordingly.