Just download 4.11.2 version and I have performance problems using this editor.
For example, I add the Kite demo libs to my project and when I choose a mesh (like a tree, for example), it takes 2 or 3 minutes to release this mesh (to foliage windows, for example).
Kite demo is huge project. It was done to push limits of unreal engine to show off what is possible.
And while your hardware is fine for small unreal projects (or learning basics), it is nowhere near pushing limit for new hardware.
So no wonder there is lag.
For those huge projects like kite demo, unreal needs 32gb of ram and card that is new not over 10 years old. Also 6600gt was not top nvidia back then.
6600gt scores 101 points in benchmark while gtx 960 has 6000 points. Your card is 12 years old.
The GPU first, the CPU isn’t terrible but if you want to open the Kite Demo project then you’ll need more memory. Game development requires a lot of system resources even if the final game requires much less.
Do you really need to make huge projects like kite demo? Also if you touch any big objects (ie change it in any way), unreal editor marks it as dynamic until you rebuild lights. Then it will cast dynamic lights, that alone can drop framerate by 60-90% down.
I suggest you stop opening those show off projects from unreal, focus more on small templates and learning examples. Meanwhile get some more cash for upgrades, and wait few months before you upgrade, summer is coming you may drop whole unreal thing in few weeks. Also new, cheaper, faster, more powerful AMD graphics cards are around corner, even if you are not amd fan, those cards mean that nvidia will be forced to lower prices. You mag get soon something as fast as GTX980tI now for half of its current price.
So keep learning unreal, wait for new hardware out there.