Any way to increase Unreal Engine performance on a laptop

I have a brand new laptop that’s not the end of the line by is sufficient:
Intel I5 13500H, 16 GB memory, Nvidia 4050 6 GB GPU (and a “gpu intel Iris gpu”. I Have not idea what this is for).
And Unreal Engine crawls. May it be in a BP or the editor.
Especially when I press play on a very simple level - A top down camera with basic floor, player pawn as a ship and 2 enemies ship, A shmup.

Why does the engine so slow? Is there anyway I can improve?

On my MSI Laptop having it plugged in the original Power Supply was crucial. Neither the replacements nor a docking were sufficient. Besides I activate Gaming Mode and have performance power ACPI activated. Newest drivers are sensible. And DO choose the right GPU in Nvidia Settings. The Iris is probably the power-save GPU on the motherboard. For battery life reasons this one is selected preferrably and you have to switch the settings for Unreal Engine.

Do you mean “top of the line”? Serious question, because “end of the line” means “at the end of one’s lifespan.” But you said it was new, so I’m just trying to figure what you mean.

Anyway:

Your hardware is not strong enough. If you can return it and afford a stronger PC, I’d do that. You’ll need at LEAST Generation 9 processor (I9 - XXXXX), 8 GB GPU RAM, and 32 GB RAM.

I MEAN IT.

Anything less, and you WILL have issues.

Thank you for your answer, I usually work on UE while unplugged. I’ll see if plugged has any difference.
How do I know what GPU Nvidia uses? I’ve entered Nvidia control panel and chose the correct GPU for global settings. But how can I be sure that UE uses the correct GPU?