Is unreal engine 4.27 or 5.0 and above better for me ?

With those specs I’d stay with 4.27. You are not going to take advantage of any of 5.0 and above’s new features (nanite or lumen). Maybe mega lights could be an option but it pretty new and not sure of the hardware requirements for it.

This may change in the future once the 5x version matures and becomes more optimized.