That looks fine for basic work. I would say it probably meets minimum requirements of any plug-in.
That's not to say that performance will be great. You're at the very bottom of the requirement continuum.
It depends on how complex the projects get. Simple projects will be fine with an i5 & 8gigs of RAM
but as you projects get more complex you'll quickly run out of resources and your work will slow to a crawl.
And like I said those Video Hive templates tend to be very complex.
I personally think 16gigs of RAM is the minimum if you want to be able to work efficiently.
AE has no limit on how much RAM it can use so the more the better.
The only other thing I would suggest is a dedicated SSD for caching.
Bottom line is that those specs meet minimum requirements & will work.
It will be able to do anything a high end workstation will do only it may take you much, much longer.
A faster processor, more RAM and a fast dedicated cache drive all would speed up your workflow but whatever...
Whenever people complain that their computer isn't good enough to do the work I always think about the fact that the early Pixar films
were done on computers with lower specs than a current smart phone & those are probably higher quality
than anything the person complaining could do even if they had the latest greatest technology.
Once the minimum requirements are met it all comes down your skills and ambition.
Everything on top of that will only improve the speed at which you can get the work done