If the company provided you hardware that is subpar, you shouldn’t spend your own money (wrt to owning/depreciating your own hardware) for the company’s benefit.
Does that slow you down? You have to ask IT every time you need elevated privileges? Well, it is the company’s policy, you shouldn’t rob them the opportunity to feel the consequences of their own decisions.
A decent manager would understand how those internal processes are slowing you down, and a bad manager, well, they’ll find other ways to screw you if that’s what they want.