Lag on High end PC?

Hello, when I first built my custom PC about 4 years ago, every game worked perfectly fine with no lag. However, now with the release of the new game Fortnite I have noticed some big issues. When I first started playing the game, it worked pretty good and didnt lag. But with the new updates, the game has become... show more Hello, when I first built my custom PC about 4 years ago, every game worked perfectly fine with no lag. However, now with the release of the new game Fortnite I have noticed some big issues. When I first started playing the game, it worked pretty good and didnt lag. But with the new updates, the game has become unplayable with terrible lag at the start and noticeable lag spikes every couple of seconds (even on the lowest settings). I found it weird because when I first started playing I could easily play with high settings, but now the game is unplayable with the lowest settings? Another thing is,
My computer specs are:

i7 4770k
GeForce GTX 770
8GB RAM
Windows 7

Whereas the RECOMMENDED settings for Fortnite are:

Core i5
GTX 660
8 GB
Windows 7/8/10
..

Can someone tell me the reason why my PC cant handle this game at minimum settings even though I exceed the requirements for the recommended settings?
Furthermore, Ive also recently noticed more lag with other games that I should be able to run. Is this because my PC components have been used for so long and degraded or is it something fixable?
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