That hiss is because it's a condenser plugged in to a 3.5mm Microphone jack sadly, that is a notoriously noisy mic when connected like this.
Excelvan BM-800
https://i.imgur.com/QoiUJmf.png
When you gain boost without a pre-amp it turns up EVERYTHING. The hiss is still there when you are speaking, the expander is trying to keep it down but the noise is very very loud.
This is also a side-address microphone, you are talking into the end
kind of side as if it were an end address, easy mistake to make but this is causing you to have to boost the gain to make up for the off axis pickup.
You can see the condenser capsule here.
Reorient your mic so that when facing and speaking towards your PC you are speaking into the side of the mic, so your voice hits the face of the capsule. You can put the mic vertically with either the XLR on the top or bottom, or put it horizontally.
Check to see if it has a front, or back label like this, you want the Front side of the capsule facing your mouth.