Is this hardware enough for development with both Visual Studio and Unreal Engine?

You are absolutely good with this. I mean seriously, do people really think that they need a nuclear power reactor to run Unreal Engine? I’ve used the engine for over a year with an Intel Core i5-7500 (4 cores!!), 8GB ram, and a GTX1050Ti. Yeah compile times were… not great, but apart from that everything was fine.