Hmmm...
The hardware should be strong enough to get better performance than that.
1.) Is this a laptop or desktop? (If laptop, be sure you are plugged in -- not running the game off the battery. That can decrease gaming performance by more than half.)
2.) Be sure the game is not installed anywhere under Program Files or Program Files(x86). Protected directories can cause all sorts of weird issues. If so, move your Steam library to the root of the drive or a folder of your own creation on the root. (There is an option to do this through Steam itself.)
3.) Ensure the game is recognizing and using your actual GPU. There should be an option in the GPU Control Panel to force the game to use only the R5. (Although, I'm not convinced this is the case. If the game were running off of on-board video, I think the performance would actually be a lot worse than you're seeing.)
4.) It may be an OS issue. The game was actually built for Windows XP/Vista. Since then, we've had multiple service packs for XP, Win 7, Win 8, Win 8.1, and Win 10. Yes, steps have been taken to get it running on the modern OS, but there will likely still be issues that will require players to work around unique system config things. One thing that you can try is installing versions of Microsoft Redistributables, beginning as far back as your Windows version will allow. These will install side-by-side, not "update" each other, so that there are multiple versions available for legacy programs.