You can play it, your graphics just meets the minimum requirement for the game. You may have to turn down your graphics a bit, based on the performance you are getting. At 1080p yes you should be able to run it.
Dynamic video memory is certain amount of memory allocated for graphics,display, texturing, and buffer memory.It will be automatically used when games need it by OS.
So i have 128 MB Dedicated Video Memory, but 4029 Shared System Memory. So does this mean that when I run CSGO, the shared system memory will be used as well? Im looking for low settings with a good amount of FPS