This simple answer to your question is “Yes, it can load UE4 and run it”. If that is all you want, then you are done reading this post. Yay!!
However, @veccher brings up a very good point, and it is important to make sure that you are getting the machine you want, for the thing you are doing. If you want to make the game of pong, that computer will work amazing for that. If you want to make the next generation 4k MMO, then you will probably be screaming at you computer.
I think its more important that you explain what you want to do with unreal engine in order to get an answer that suits you.