Yes, that would be a great idea. The GT 530 Just sucks in general when trying to perform Graphically demanding programs. You will have no problems If you upgraded to a GTX 970 , GTX 980 , etc. You will have no problems, just make sure you will have enough room in the case. (Depending how long the card is) Your Cpu is still really good, and I would recommend attempting to overclock a bit, With some decent cooling to give you some better performance increase.
Hope this helps