Good morning! Sorry for the late response. Holidays. Anyway, the easiest way to get to your BIOS settings, is Start Menu>Settings>Recovery>Advanced Startup. The computer will reboot and take you into your BIOS. Now from here different computers have different menu settings. There should be an option to increase the VRAM under the Graphics configuration (or whatever your computer manufacturer calls it). Here's a link to a quick how-to
As far as hardware upgrade it simply means replacing components like your GPU with a more powerful one with more dedicated memory. My personal favorite cards are NVidia. You can get a RTX 30 series for about 150-200 bucks or a 40 series for $400+. The 30 series is more than capable of working.