Hi @kristine4727
The laptop's memory, CPU and GPU specifications already equal or better the ''recommended'' [https://www.pcgamesn.com/minecraft/system-requirements|system requirements]¹ for the game.
¹''Benchmarks'' comparing laptop CPU and GPU specifications versus system requirements for game
[https://versus.com/en/intel-core-i5-1235u-vs-intel-core-i7-6500u|Intel i5-1235U vs Intel i7 6500u]
[https://gpu.userbenchmark.com/Compare/Nvidia-GTX-940M-vs-Intel-Iris-Xe/m28796vsm1268515|Iris XE vs GTX940M GPU], [https://gpu.userbenchmark.com/Compare/Intel-Iris-Xe-vs-AMD-Radeon-HD-8570D/m1268515vsm9112|Iris XE vs Radeon HD-8570D GPU]
You could upgrade the memory as the laptop supports up to 32GB of DDR4 PC4-25600 3200MHz SODIMM ram over 2 ram slots i.e. 2 x 16GB modules as guaranteed by this [https://www.memorystock.com/memory/HewlettPackard15dy5885wm.html?srsltid=AfmBOorNmqXpmnarBaN-FJG4laELJUoKxc37vc4PPNa8tcM4i3XfhrfW|supplier] (not that you have to purchase from them).
If you decide to upgrade the ram, here's the [http://h10032.www1.hp.com/ctg/Manual/c08289069.pdf|maintenance and service guide] taken from this support [https://support.hp.com/au-en/product/details/hp-15.6-inch-laptop-pc-15-d5000/model/2101006281?sku=A14MMUA|webpage] for the laptop that will help. Go to p.31 to view the procedure to remove/replace the memory modules.
Performance wise there's nothing besides the memory that can be upgraded as the GPU is integrated with the CPU and it is hard mounted on the motherboard i.e. non removable.
Depending on your requirements you could increase the storage by replacing the 256GB NVME SSD with a larger capacity 2280 M.2 PCIe3x4 NVMe SSD e.g. 512GB or even 1TB (not sure if these require a heatsink but if they do there mightn't be enough space for it to be inserted)
I guess it may come down to how much you want to spend.