Iris Xe, like all integrated graphics, has no vram of its own, it uses your system ram, it allocates 128MB exclusively for itself and then, if available, it can dynamically use up to half of your system ram.
If you've got 8GB of system ram, Iris Xe will have access of up to 4GB to use as vram, if you've got 32GB, it can access up to 16GB.
From the looks of it, "Can I run it", only looks at the exclusively allocated amount of 128MB and that's why it claims it doesnt meet the requirement.
Iris Xe, like all integrated graphics, has no vram of its own, it uses your system ram, it allocates 128MB exclusively for itself and then, if available, it can dynamically use up to half of your system ram.
If you've got 8GB of system ram, Iris Xe will have access of up to 4GB to use as vram, if you've got 32GB, it can access up to 16GB.
From the looks of it, "Can I run it", only looks at the exclusively allocated amount of 128MB and that's why it claims it doesnt meet the requirement.