I think dedicated PhysX is still a thing, but I don't think you'll see any big performance gains from it. I don't remember, all I remember is reading that it wasn't really worth the trouble. Plus, still not that many games use PhysX anyway.
An i5 2400 and a 1050 should be pretty decent. They should let you hit medium settings for sure, but don't expect anything too high. A 1050ti or 1060 would be better...