I use dynamic link all the time (I'm on cc2018).

The key for me is rendering and replacing the DL clip.

In premiere, right click on the dynamic linked clip in the timeline and choose render and replace, which renders out the ae clip and puts the new media in place of the DL clip in the timeline.  Now, it just plays in realtime like any other clip.

Then, if I ever need to update in ae, right click the clip again and choose "restore unrendered", which brings back the original DL clip, and right click "edit original" which opens it up again in after effects. When changes are made and ae projrct saved, render and replace again in premiere.

Also, it seems like if you preview the comp in AE at full res, the renders in premiere are faster because it uses cached frames instead of rendering (this is how it seems to me, but I could be wrong).

-Mike Cardeiro