3440x1440 on Vostro 5415

I have recently purchased a PHILIPS 346E2Lae - 34" HD 3440x1440 flat screen monitor to connect to my work laptop, a Vostro 5415 with a Ryzen 5 5500U processor and 16 GB of RAM. 

When I connect the monitor, I can only run at 30hz at this resolution. I would have to drop to 2560 x 1080 or 1720 x 1440 to get 60hz or 50hz

Some additional info that may be relevant:

• I am using an HDMI cable that came with the screen
• I am using a single screen setup
• As far as I can tell all the windows software is update

How can I get the screen to run at 3440x1440 and 50 to 60hz? The screen has USB3.0

Thanks in advance for any assistance anyone may be able to provide.