First thing I noticed is the graphics card. It isn't even close to adequate for EW 7. The rest of the system is fine, but that graphics card will struggle with anything higher than 360 or possibly 480p graphics. You can try going into Edit - Options - Advanced and checking Disable GPU Shrink Filter as a test to see if EW runs better. If it does then you know that you need to replace your graphics card. I wouldn't run EW long term with that setting checked as it's essentially there for diagnostic purposes.
And are you running off of spinning rust hard drive or an SSD. Running Windows 10 on a spinning hard drive can cause a lot of issues with EW if one doesn't leave enough time after powering on the computer before trying to run EW. Due to all of the diagnostic and telemetry that Windows 10 does when it first starts it can easily take up to an hour for it to finish it all with a spinning hard drive. During the time that time the hard drive is pushed to it's limits making EW extremely difficult to start or run. With an SSD that time is reduced to a few minutes.
If it was me I would spend the money on a better graphics card first, then an SSD if you don't have that already, then the additional ram. The ram would have the least amount of impact on running EW.