I want to have a DFRobot FireBeetle 2 ESP32-E board (connected to a 3.7 V Li-Po battery using the integrated battery circuit) drive a 5 V circuit. So I figured out that I need a step-up boost converter, for example this one: input voltage 2.7 to 5 V DC, output voltage: 5 V DC max 2 A. Also I know that I can't connect the boost converter directly to a digital output pin of the ESP32. So I'm looking for a component that can turn the 5 V circuit on and off. The Internet has taught me that there are transistors, MOSFETs, optocouplers... but I'm not sure which specific component would be best in my scenario.
A bit more context: the ESP32 will drive a 5v Waveshare e-paper display and the ESP32 will be in deep sleep most of the time. During that time it's in deep sleep, the 5 V e-paper circuit should be powered off (the e-paper will still display the image). Once in a while the ESP32 should come out of deep sleep, download a new photo, turn on the e-paper circuit, display the photo and go back to deep sleep.
I tried to visualize all of this in this diagram: 
The 3.7 V Li-Po battery is connected to the ESP32 battery connector. An output pin is connected to the component I'm looking for. When the output pin is high, it should allow the 5 V boost converter to power the display. The display will be connected to the ESP via SPI (I didn't draw those connections).
