The type of shell that works for cycling is going to be so thin and light that you can easily stuff it in a jersey pocket. I'm not familiar with your jacket but a few things jump out at me. One is that it appears to have quite a few pockets. Those degrade the performance of any jacket for the simple reason that body heat/sweat has to deal with the pocket material (and whatever you might carry in your pockets). Another thing it mentioned was a "breathable mesh liner" -- I read that to mean that the shell isn't (which is why you have vents) If the exterior isn't breathable, you'll roast even if the material isn't any thicker than a ziploc baggie.

I suspect your jacket is much heavier than you realize. But even if it isn't, it's very likely that it doesn't breathe well at all.

There is a lot less need for fleece and thermal layers than people expect. Most people dress way too warm. I don't ever wear fleece when cycling, including when the temp is well below freezing.