when you enter the game area it takes the textures from your drive and places them in ram... you need a min of 10G free ram just to load the background textures etc so if your system has less then its using the drive as Ram
if your system has 12G -16G free Ram then it should be running fully [assuming you don't also have something else running] and the delay times are only when you load a save game from a different area or when moving from one large area to another
an old dice type drive will in deed play this game - with small delays at area transisions
an ssd drive will load new areas faster than the old disc drives
systems with small amounts Ram will load the slowest reguardless of drive type and low Ram systems [including things like PS5] will tend to crash more offen per hour of game play
so to answer your question, yes that drive will play BG3... there is a lot of stink going around the internet right now about fuckpunk needing SSD after its new patch but thats a different kind of game and really should have needed SSD anyway if was kicked out the door in a half playabe state