Unfortunately your system specs fall below the required minimum to run the program using any hardware acceleration from your GPU as shown on the program specs page. You can change the program device settings so that the Import, Export, and Processing settings are all set to CPU. The program would probably have detected a GPU and set it to your nvidia GPU which won't cope. The CPU setting instead should restore your ability to see the images from the video clips.
To stop the sound cutting in and out try increasing the sample rates in the playback settings also found in the program settings. Don't over the increases by too much at a time as that may cause further problems.