Unreal Engine 4 extremely slow

I recently installed Unreal Engine 4, my machine’s specs are - I believe - above what it needs to run. My problem is that when I load a blank project to begin a brand new project, Unreal Engine slows down dramatically to the point that something that should take me five minutes is actually taking ten minutes or more due to Unreal responding so slowly to any input. Any help resolving this would be very welcome!

My machine’s specs are as follows:

Windows 10 PRO 64-bit

Twin QUAD Core i7 3.4GHz

32GB RAM

2GB AMD Radeon HD 7800

DirectX 12

1TB hard drive