With a GTX 1050 you should be fine playing at 1080p 30fps with a mix of medium & high settings. (No nvidia hair works).
If its possible I would go with the 4 GB version of the GPU.

Thanks!

For this particular game, will 4GB have any advantages over 2GB? Visually, I'm ok with the way the game looks with my GTX 550, but framerate is almost unplayable. Sounds like a 1050 with 2GB will have much better framerate than the 550 with better details. But wondering if its worth it to save (and not play W3 for awhile) and get the 4GB version.

"For this particular game, will 4GB have any advantages over 2GB?" Yes, that's why I said if its possible go with the 4 GB version. It will allow the game to have more RAM for the resolution and preloading of textures.As for the FPS with the GTX 1050 you should see better performance over your GTX 550 weather its the 2 GB or 4 GB version. But I would go with the 4 GB that's just me though.

Hope this helps.

As much as I hate to wait to play it, I think it might be worth it to save and get the 4 GB version. Probably also last longer until I need to upgrade again.

Thanks for info!

I think waiting a bit and getting a 4 GB card is a wise choice.
Who knows what might be required to play cyper punk 2077.
Maybe consider a refurbished card from the EVGA wesite.