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Yes, and then some. From what I can tell, that CPU has an onboard Radeon RX Vega 11 graphics chip. That graphics chip has an ASIC for video encoding (offloads video encoding to hardware instead of using CPU). It supports AMD's VCE 4.0. According to the wiki, VCE 4.0 can encode up to 3 streams at 8k resolution. You do need to stream through a program like OBS that supports hardware encoding to take advantage of that. 1080p should be fine just using software encoding.
Streaming/video encoding is CPU intensive, not memory intensive. My desktop originally came with 2GB of memory and that was just fine for streaming 1080p as long as open programs/tabs were kept to a minimum. I have since upgraded to a whopping 4GB. Memory is mostly irrelevant to streaming as long as you have a sufficient amount to keep open programs in memory. OBS and a couple of tabs don't need much. Of course more is better, especially if you're like me and have 800 chrome tabs open. Plus, windows will take advantage of any extra RAM and cache frequently accessed files/programs in memory speeding things up overall, but it won't make much of a difference as far as streaming goes.