Context API is not an alternative to Redux. Don't try to put everything in Context, it will be difficult in future. Not easy to debug, hard for other developers to understand, and a lot more. As react docs suggest use Context just to hold some variables like theme colour, language code, etc.
When I started learning React, due to the learning curve I built everything in Context API instead of Redux. I regret it later. Rewrite everything in Redux.
Have you done code splitting?