What's a good upgrade for my PC?

[Andytizer 269]

After running Half-Life: Alyx wirelessly through the Oculus Quest, I've realised that a lot of the latency is probably generated by the encoding/decoding of the stream rather than my 5GHz wifi. Also I'd like to be able to play more games at 3440x1440 at 75Hz  without turning down the resolution or using resoluition scaling. I also figure it's time to upgrade as my PC is nearly 7 years old. This is a good time to do it as I have a lot more free time due to the quarantine, but it's also a really bad time due to supply chain disruptions in China caused by the coronavirus.

I am currently running:

• i5 4670K
• 16GB DDR3
• ASRock Z87E-ITX
• Zotac 1070 8GB

I am happy to spend quite a lot to get a high end setup to replace the CPU/Mobo/RAM. Is it worth going AM4 eg R7 3700X now, or is there something around the corner I should be waiting for?

[BONKERS 32]

Maybe not the 3700x but the 3600x (Or even a cheaper 2600x. 12 threads is still pretty good). One of the R5 chips is cheap enough I feel you could justify buying it and if there is something better around the corner at some point that is still AM4 compatible you can easily buy the newer chip and sell off the cheaper older one and not lose a lot of money.