What is the minimum system requirements for premiere pro

Here's Premiere's offical system requirements:

https://helpx.adobe.com/premiere-pro/user-guide.html/premiere-pro/system-requirements.ug.html

Is it Mac or PC? Are you ediitng H.264, BRAW, Pro Res? Is it HD or 4K? Let us know what you are editing. Your i5 is to old to make use of Quick Sync. Your system might edit H.264 HD OK at 1/2 resolution. It will look fine on your laptop. The video below will allow you to find the weakest link in your system. On the Mac side you can run iStats.

Let us know if you have any specific issues? And when do they happen? What messages are you getting?

For Premiere, depending on content you're going to use, I would say a minimum would be 8GB of RAM but 16GB would be recommended.

Processor, i5 would be fine (I've used i5 up till 2019) but 4th gen may be too old. I think they're on 11th gen already 😉

Some things to do, and more information needed for someone to help...
-PPro Editing Information FAQ https://community.adobe.com/t5/Premiere-Pro/FAQ-What-information-should-I-provide-when-asking-a-question-on/td-p/3929027
-Troubleshooting https://community.adobe.com/t5/Premiere-Pro/Unofficial-Premiere-Pro-Troubleshooting-Guide/td-p/8789200
-Mac only https://community.adobe.com/t5/Premiere-Pro/FAQ-Basic-Troubleshooting-amp-Maintenance-for-Premiere-Pro-on/td-p/4788764

Before you buy a new computer

https://community.adobe.com/t5/video-hardware/premiere-pro-hardware-articles-to-read-before-you-buy-or-build/m-p/11557686

Hanging is not a failure of system requirements: I know you want an "easy" solution, but just telling you to buy a new computer may not fix it. It is a specific technical issue. Please post full details of your issues and system configuration in the premiere Pro forum.