Minecraft is actually CPU bound.
It has a lot of simulation to do in a generally less-than-optimized codebase, and the graphics are simple enough that they don’t cause too much load on a modern GPU. You DO need some graphics horsepower for Minecraft, but not nearly as much as you do for other games.
It's a CPU and RAM intensive game, so try to REDUCE your 'Render Distance' in the game. How much RAM does your system has ? Render Distance takes a toll on the CPU usage.
The game is reliant on core speed, rather than core number. A higher clock speed means you’ll get better performance outright, due to how Java works. Are you using any MODS ? This can have a great affect on the CPU.
Also, while playing Minecraft, close all unnecessary background processes/apps running.
Since this is a CPU-intensive game, it relies heavily on the processing power of the computer's CPU rather than the graphics processing power. Minecraft uses a lot of complex algorithms and calculations to generate and render its blocky 3D world, including terrain generation, physics calculations, and entity interactions.
However, this does not mean that GPU is not important. The GPU is also responsible for rendering the graphics of the game, including textures, lighting, and special effects. A powerful GPU can help improve the visual quality of Minecraft, especially when using high-resolution texture packs and shaders.
Although, a low-end GPU might also run this game, but large worlds and heavy modding will take a toll on the CPU, due to how Java works.
As mentioned earlier, try to reduce your Render Distance in the game. Lower and cap your max framerate to 60 fps., as doing this should also stop Minecraft from using a lot of CPU horsepower.