Depends on what you want to work on... mainly the video resolution/size, but also effects or other intense processing like noise reduction or motion tracking.
FWIW, I've been using a GTX970 to edit 4K (UHD and DCI) footage, and it does work. This card is definitely a step down from any 1050, and doesn't even have "studio" drivers available (it does have 4GB RAM, but it's segmented into fast and slower parts). My working timelines are usually in 1080 or 1440 (native for my monitors), 29.97, then I create a full-res copy timeline if needed for final output. I'm also driving 4 monitors total off this card, using it for all GUI and desktop, so it's certainly getting a workout. Live preview with grades can be rough (and never mind Fusion effects or NR), but with caching pretty much anything will play back smoothly eventually. I mostly cut/edit with "bypass color grades and effects" enabled, so the previews (especially audio sync) are smooth, then re-enable the full preview and let it cache a bit before playback.
Also, playback smoothness depends a lot on the source material, eg. for me ProRes is very smooth, h264 is fine, h265 is unusable. So for highly compressed material I'd do proxy files (or just convert the originals), for sure.
I'd upgrade in a heartbeat if there was anything practical available (from reputable source, not marked up 4x), but c'est la vie. My wife's computer actually has a 1050 Ti I'd like to "steal," but it doesn't have enough video outputs for me...
Also should be mentioned that the rest of the system is more capable... 8 cores @ 3.6GHz, 64GB, mix of NVME/SATA SSD Raid 0/WD Black HDD Raid 10, and so on... so that definitely helps matters.
HTH,
-Max