Trying to Upgrade my Hardware for Video Editing 1080p

I bought a IBUYPOWER trace940. same as it was when I got it from Best Buy.

•intel core i7 8700 3.20Ghz 3.19Ghz

•16gb memory

•nividia gtx 1060 3gb

•120gb SSD

•1tb Hard Drive

•windows 10 (64)

i started making a music video in after effects that consists of over 6,000 drawn lines to make animations.

System started running really slow with rendering and just in general. So I tried to export  project so I can throw it in premiere pro and maybe get a smother editing experienc, but it gets about halfway through rendering and it says it fails at the same frame everytime. And also it will say my GPU ran out of memory and makes me switch to the system rendere instead of the CUDA so I can’t use gpu acceleration . I’m extremely new to gaming computers so I’m wondering should I upgrade my GPU? CPU? I’m not editing in 4K. Like I said Im nee to the scene so if I left any info out about my desktop please let me know and I can get the info. This has made my project come to a halt so any help will be appropriated!