Going purely off the touchscreen and SIMS 4 recommended requirements, the laptop fits the bill for low/medium requirements because of the card:
This is a bench of SIMS 4 from notebook check on the card from the laptop you linked. Numbers indicate FPS on Low/Medium/High/Ultra settings respectively:
I’ve also done a super quick google ‘Lenovo Yoga 530 sims 4’ and haven’t found anything about any major problems with this laptop and Sims 4.
So providing you’re alright playing on low/medium maaaaaaybe some high with a bit of tweaking, the laptop fits.
The memory can be upgraded to 16gb and the SSD can be upgraded in size further down the line easily enough. You could probably pick up 16gb ram and a 1tb SSD for under £200 now, maybe less in future with sales/etc.