The minimum requirements for GTA V are not particularly hard to meet (I think the minimum GPU is a 9800?), so 'playing' GTA V is a yes in most cases. Whether it would necessarily be an enjoyable experience though, is another question altogether.
There are 2GB and 4GB variants of the R5 330M, but it's very much an entry level gPU.
With the GPU you have, you'd have to keep your settings in the low range to get any sort of playable experience from it IMO - but it certainly should run.