Minimum specs from the store page:
Requires a 64-bit processor and operating system
OS: Windows 7 or later
Processor: 2.6 GHz Quad Core or similar
Memory: 8 GB RAM
Graphics: GeForce GTX 950 or Radeon HD 7970
DirectX: Version 11
Storage: 1 GB available space

Having an I7 doesn't necessarily mean you meet the minimum processor specs, some have a base frequency as low as 1.0 GHz so if you have turbo boost disabled, or it's not kicking in, or it just doesn't work well (or at all) with the game, then your CPU speed is going to be way below the minimum and you'll have issues.

You have the bare minimum of ram, and it's a laptop, so that's not good either.

Your GPU is a mid-range GPU that is known to struggle with some games such as PUBG even on low settings.

It's very likely your computer is at least part of the problem here but keep in mind that the game is in early access and is not fully optimized. Once it's actually finished you may find your performance improves a lot.

There are a lot of forum posts with tweaks and suggestions to boost FPS and performance, use the search feature from the main Valheim forum page and try some of the simpler fixes to see if they help.