TLDR: I can't say for 100% sure, but there are multiple reasons to believe that this is malware.
Long version: I'm seeing multiple suspicious things here.
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The IPs being connected to are part of some hoster and have some abuse reports: https://www.abuseipdb.com/check-block/217.20.58.98/29
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The domain being resolved is qcloud[.]com, which belongs to Tencent Cloud and definitely not Microsoft.
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Other domains in memory like counter-strike[.]com[.]ua are very new and definitely sound fishy.
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A standalone version of 7zip is being run and extracts the created rar file with the password "infected". Real alarm bells here.
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A lot of the registry actions look like anti-debugging, which does not sound like something an Illustrator Plugin would do.
 


