I would start with the memory. 8 GB is way too small nowadays. The video card should actually give you a tolerable performance, esp. if you tune down the graphics settings, or use Autodetect (I have 1070 Ti, and the game is just a wee bit laggy on highest settings).
Another important thing that you didn't mention is the type of the storage you have. Is it an old HDD (with spinning plates, you know), is it an old SATA SSD, or is it a newer NVMe SSD, configured in PCIe rather than SATA mode? The latter, the better.
The drive performance is especially critical here because you don't have enough memory, so when the game can't allocate enough RAM for itself, the OS starts swapping out some pages from memory onto disk. In this situation, a slow disk immediately becomes the main bottleneck that grinds the whole system's performance to a halt.
It's better to have enough RAM and a fast drive, of course, but if your options or budget are limited, at least one of them should be addressed:
- Install additional (or rather, replace existing) memory modules on the motherboard. This can be tricky because these days, most if not all MB manufacturers are very particular about which DIMMs can be installed onto which boards, and which slots they should go into. And I don't mean just the memory standard or clock speed or RAS / CAS latency, they usually have QVLs with specific models and configurations. Sometimes it's borderline ridiculous - I've seen situations when different DIMM kits that have exactly the same modules, one of them is on the QVL but the other isn't, simply because one of them has 2 DIMMs and another has 4. So, before you buy any extra RAM, make sure it's on your MB's QVL.
Mixing different DIMMs is not recommended; it might work in your case, but not guaranteed to be 100% stable. - Install an additional drive, the fastest your MB supports, and configure Windows so that its swap file is located on that drive (along with the game itself - wouldn't hurt). This is a bit more trivial, although you probably will need to go to BIOS to configure it.
Also, keep in mind that if you will decide to fiddle with the drive(s), it's possible to make your system unbootable, or worse, to lose access to all your data. So if you are going this way, make sure you have a system backup on an external drive which your system recognises as bootable. You either need to know what you are doing, or being okay with potentially reinstalling your system from scratch. Be careful out there.