Never have issues with fancy dynamic lighting on optifine, but am having huge lag when carrying light emitting object with this mod. Any fixes?

I've found that enabling a certain Sodium option helps.
Navigate to your config folder and open the sodium-options Json file.
Change "always_defer_chunk_updates" to true.

You may also set Particles to decreased in-game which can potentially help reduce lag. Hope it helps!

As said previous, enabled chunk updates deferring helps a lot!