laptops are not official supported according to the recommendation on the wiki. laptops generally have less powerful hardware and run hotter which decreases performance.
you mention realistic graphics and ray tracing, given those requirements i would say you dont have the performance to develop for that situation. personally i would say more ram and a better gpu but thats just me (i personally have a 1060 but dont go for realistic so i cant say how it is).
the best answer i would say is to just open ue4 and make something and see how it performs. if you have memory issues then you know you need more memory, low fps well thats a little more complex but it could be the gpu. see what works and what doesnt to learn your limitation.