I run VR games acceptably on my i5 4590 and an RX 470 using a WMR headset. Most games run just fine. I notice some problems with graphically intense games like Fallout VR, but everything else runs great. I also run VR on a 7700HQ and a GTX 1060 6GB, and that runs better. I suffer no issues with that setup. Your weak point here is the i5 2500. A GTX 1060 is fine in most cases for most VR games.
So, I'd agree that you should upgrade the CPU, but the GPU should be ok. You'd be better off with the 6 GB version (when I say the 3 GB version is ok, I mean just ok, it won't be super great, but it will work), but if that is what you have then that is what you have, and there will be plenty for you to enjoy in VR.