Should I use dedicated database for medium traffic website (GCP)?

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I have been constantly getting “Reduce server response time” on Google Page Insights. I am running a WP news blog on GCP instance with 2 core 7.5 GB instance, NGINX with fastCGI, using cloudflare as proxy and Bunny CDN. The blog has 8000 posts with approx. 100K visits per month. In this scenario, should I separate the database and host it on a dedicated host like cloudSQL to reduce the response time?

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