I have a 10 years old quad-core processor, with R9 390 8 GB and 24 GB ram, UE5works like a charm.
really the GPU matters with 6+GB VRAM is good enough, if you have the latest drivers and all it will work.
Yes it takes 45 minutes to install on almost all old computers, depending on your download speed as well, and then shaders take 2 hours to load, but once that is done, it opens and closes pretty fast.