Acer notebook for video editing and rendering

Yes, it will be slow. The GTX 1050 is a very weakling GPU these days (and if anything is actually weaker than even some recent integrated on-CPU graphics in GPGPU processing performance), while that Acer laptop came with either a 7th- or 8th-Gen i5 CPU (both of them quad-core, but the 7th-Gen has no hyperthreading while the 8th-Gen does have hyperthreading). In other words, slow or slower, depending on your particular i5 CPU.

The system is kind of weak but should work OK for HD (1920 X 1080). 

You want at least 16 GB RAM for HD, preferably 32 GB RAM.

What are the rest of the specs including hard drives?